The UK is scheduled to leave the EU on March 29, 2019. At this time, however, the UK has failed to ratify a Withdrawal Agreement, risking a “no-deal” exit. Whether the UK will leave with or without a deal remains unclear, and the analysis changes on a near-daily basis. Regardless of outcome, however, the nature of the UK’s future trading relationship with the EU will need to be determined in a relatively short period, and the product of those negotiations will form the basis of the UK’s future trading relationships with the rest of the world, including the United States. The UK will also have the opportunity to act in other areas post-Brexit – such as tax policy, immigration, and supervision of regulated industries. These developments will significantly impact many global supply chains.
Our colleagues on both sides of the Atlantic, in particular Ambassador Matthew Kirk and Donald Moorehead, have prepared an in-depth analysis of the current status of Brexit. More information can be found in the attached briefing.