The Retailer Winter edition_2020

If the negotiations do yield an agreement capable of being implemented by the end of 2020, implementation periods may be required to cushion the impacts upon sectors of the economy facing major shifts in trading terms in 2021. All of this will require clarity and creativity from both sides - on the trade-offs between market access and regulatory autonomy - to reach an ambitious agreement at pace this year. The new trading agreement must also deal with the impacts within the UK itself. Significant extra costs for retailers and consumers could apply when moving goods from GB to NI in the absence of a zero tariff, good alignment, low friction deal with the EU for the whole of the UK. To make the NI/ROI Protocol operable in time, the Joint Committee established under the Withdrawal Agreement and its technical working groups must complete work on which goods will be subject to tariffs on entry to NI and which goods are at risk of entry into the EU Single Market. Much of the detailed processes on this - and on indirect taxation - must be completed by the end of this year. A real challenge. In terms of Scotland and Wales, the Government’s desire to make new trade agreements quickly requires extremely sensitive handling. The interplay between devolved powers on food policy is just one of the many issues that will need to be addressed. The retail industry is ready to meet these challenges in 2020. A tight deadline needs to focus all minds on the best possible deal for consumers. We hope both the UK Government and the European Commission’s UK Taskforce will strive for a zero tariff, low friction deal which is mutually beneficial for both UK and EU retailer and consumers.

What is a trade deal? Breaking down the UK-EU negotiations | 25 FEB Put your questions to William at our upcoming webinar on cross-border trading terms impacting UK retailers. REGISTER TO JOIN

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