Under Brexit, the UK is likely to leave the EU at the end of March 2019 – a development that will impact many global supply chains. Whether the UK will leave pursuant to an orderly arrangement, or whether it will leave without a deal is still unclear, and will likely remain unclear for the next several weeks and perhaps months. Even if the UK leaves the EU in an orderly manner, the nature of its 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.
Our colleagues have prepared a summary briefing analyzing the likely impacts of BREXIT. The key point is that, although there is likely to be short-term disruption, BREXIT is likely to give rise to a significant number of opportunities, including in supply chain operations, and it is important to anticipate these developments and plan for them now rather than later. For example, both the US and UK governments are now actively laying the groundwork for a new free trade agreement.
More information can be found in the attached briefing.