Brexit: The Transition Period and Future Trading Relationship

Written by Matt Springate
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This week we feature guest author Matthew Springate, Principal for Tradewin's practice in EuropeSince 1997, Tradewin has been providing expert import and export advice to clients all over the world. Combined, their skilled team of Customs brokers, lawyers, accountants, and other professionals possess more than 400 years of experience. Together, they have helped thousands of clients save more than $50 million in duties, guiding them through the ever-changing and complex arena of international regulations as effortlessly as possible. Tradewin is a wholly-owned subsidiary of Expeditors. 

Following a decisive win by the conservative party in a recent UK General Election, on December 20th, 2019 the UK House of Commons approved the Withdrawal Agreement Bill (WAB) governing the UK’s departure from the European Union (EU). In parallel, the bill was approved by European Parliament on January 29th, 2020.

The WAB serves as the agreed-upon text between the United Kingdom and EU establishing the terms of the UK’s departure from the EU.

The WAB was originally negotiated in principle between the UK and the EU. However, the text approved by Parliament contains a few notable changes that will need to be reviewed by the EU prior to approval.

The UK left the European Union on January 31st, 2020. Currently, the UK and EU are in a transition period, ending on December 31st, 2020.

During the transition, the UK and EU would continue to trade with one another as normal.

Negotiations will recommence between the UK and EU at the beginning of February, this time with the ultimate goal of negotiating a free trade agreement (FTA) between the two parties.

To learn more about what the transition period entails and what the future of trading within Europe might look like, download Tradewin's free white paper.

As always, Tradewin is here to help with any outstanding questions on trade compliance concerns as this significant shift in trade relations occurs.

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Blog was originally posted on February 3, 2020 1 PM

Topics: Trade, Brexit, Tradewin

Matt Springate

Written by Matt Springate

As Senior Manager for Tradewin’s practice in Europe, Matt brings extensive experience in working with importers and exporters to perfect their compliance operations. He specializes in duty recovery programs, preferential trade agreement qualification, tariff classification, and audit support. Prior to joining Tradewin in Europe, Matt worked for Tradewin in the U.S. for four years. His most recent role was as Manager of Tradewin’s U.S. Duty Drawback practice. There, he pursued duty recovery programs for companies in every industry, including automotive, pharmaceutical, fashion and retail. Preceding that role, Matt supported Tradewin as an Import Services Consultant, where he assisted clients with first sale for export programs, prior disclosure presentations to U.S. Customs, and import declaration auditing. Matt holds a Master of Arts degree in Diplomacy and International Commerce from the University of Kentucky and a Bachelor of Arts degree in Political Science from Furman University. He is a Licensed Customs Broker in the U.S. and is IATA/FIATA Certified.

2 minute read