Once the United Kingdom starts negotiating its exit from the EU, companies with international operations will enter a phase of uncertainty. What might change with regard to imports and exports after Brexit?
The UK has voted to leave the EU and is now due to start its exit procedure.
The specific impact on trade with the EU will of course depend on the precise Brexit date and the terms negotiated between the UK and the EU, so that it will probably not become apparent straight away. Yet, even at this stage, we can identify the following issues as major challenges for international trade if the UK actually leaves the EU.
Further details can be found in our collection of major issues on customs and VAT for the event that the UK leaves the EU.
Nevertheless, at present, we believe it would be rash to take economic measures as the UK has so far not yet formally notified the European Council of its intention to withdraw from the European Union, as required under Article 50 of the EU Treaty (also known as the Lisbon Treaty).