Trading with the UK
Importing & expanding into British markets.
Trading with the UK
Trading with the UK has the potential to be great for your business.
Every day, the UK trades goods and services with businesses from across the globe. In 2019, the UK’s imports totalled £718 billion and exports totalled £689 billion.
When buying British, the challenge for businesses is finding the trade partner that best fits your needs from the abundance of quality suppliers across all parts of the UK economy.
And for those selling to the UK, you need an understanding of the rules and regulations on goods and services being imported, and what you risk if you breach those regulations in areas such as documentation, classification and standards.
The impact of Brexit on trade regulations & tariffs
With the UK no longer a part of the European Union, the UK Government is actively seeking to establish new terms of trade and engagement with countries across the globe. New rules and tariffs are emerging as the UK forges a new trade proposition to the EU and the rest of the world.
While an EU member, the UK had automatically been part of EU trade deals with more than 70 countries.
The UK has given permission to copy these agreements and is working to agree deals individually with each of these countries to take effect from 1st January 2021.
During the transition period, the UK will remain part of the EU’s trading arrangements – the single market and the customs union. That means no tariffs, quotas or checks will be introduced. The UK will need an agreement with the EU to stop new tariffs and other trade barriers coming into force after the transition period ends on 31st December 2020.
Boris Johnson has made clear his vision to open up the UK economy to markets beyond Europe, with new free trade deals designed to encourage trade by reducing or eliminating tariffs, and potentially quotas and standards, for goods and services.
It’s a developing area which promises significant opportunity for businesses looking to trade with tor expand their business activities with the UK.
How to do business with the UK
Our guides provide all the information you need about trading with the UK, including guidance on new UK trade agreements and customs & tariff regulations for exporters to the UK.