On Christmas Eve, the United Kingdom and European Union finally agreed a trade deal – the Trade and Cooperation Agreement (TCA) – which will define the post-Brexit trading relationship between the European Union and United Kingdom from 1 January 2021. We have set out key elements of the framework that businesses trading between the European Union and United Kingdom need to be aware of.
The TCA will be directly relevant to all businesses that export and import goods across the UK-EU border. Although EU and UK businesses will notice more burdens and restrictions than they have been accustomed to, the TCA goes some way to preserving the flow of trade in goods; perhaps most significantly, trade between the United Kingdom and European Union will be duty free and quota free provided the goods originate in the United Kingdom or European Union. Read More.