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Brexit—What the EU-UK Trade and Cooperation Agreement means for supply chains

Brexit—What the EU-UK Trade and Cooperation Agreement means for supply chains
Published on: 31 December 2020
Published by: LexisPSL
  • Brexit—What the EU-UK Trade and Cooperation Agreement means for supply chains
  • Overview
  • Tariffs
  • Customs and VAT
  • Non-tariff barriers/Product regulations
  • Northern Ireland

Article summary

Commercial analysis: On 24 December 2020, the UK agreed a 1,250-page Trade and Cooperation Agreement with the EU, which provisionally takes effect from 1 January 2021. For businesses that have not already assessed the impact of Brexit on their supply chains and how they do business, there is now at least certainty on what is required when exporting and importing goods across the UK-EU border (and increasing clarity on goods moving between UK and Northern Ireland). Businesses that are not prepared could face increasing costs through delays or penalties from 1 January 2021. Another very real risk for un/under-prepared businesses is that suppliers or customers in the supply chain will switch to those that are prepared, to help ensure the smooth flow of goods under the new UK-EU trading regime. Andrew Hood and Richard Tauwhare of Fieldfisher consider the impact of the EU-UK Trade and Cooperation Agreement (TCA) on supply chains. or take a trial to read the full analysis.

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