More than half of supply chain managers believe that a “hasty” trade deal between the UK and the US would be detrimental to the economy.
In a survey of 1,176 supply chain managers by the CIPS 54% of those with international suppliers said they were concerned that a trade deal with the US will do more harm than good to the UK economy.
The CIPS warned that a “hasty” trade deal between the UK and the United States would lead to a flood of cheap American imports, weaken food standards – symbolised in press reports by chlorinated chicken – and lower worker protections.
Furthermore, the survey also found that 77% of supply chain managers were concerned that UK standards will drop in the rush to negotiate a trade deal to keep supply chains moving.
Dr John Glen, CIPS economist, said: “It is highly likely that negotiators from the USA and elsewhere will call on the UK to water down consumer protections and quality standards to open the door to foreign competitors.
“Balanced and beneficial trade deals for both sides of the negotiation table take time and the UK Government needs to ensure that the short-term rush to complete them does not distract from the long-term implications of any deal to consumers and business.”