Towards the new normal – Brexit and beyond
The UK government has been clear that whatever the outcome of the Brexit trade talks they will not extend the transition period beyond 31 December 2020.
German officials have been reported as saying that EU leaders may intervene in the autumn if no progress has been made, to try and strike a compromise deal.
A clear focus on import taxes and international trade issues is key in preparing for the tariffs and trade requirements with the EU from 1 January 2021.
The final round of Brexit trade talks is taking place and political deadlock means that a nodeal is becoming more likely. The deadlock centres on the UK being required to sign up to EU rules in exchange for tariff free access.
On 12 June, the UK government announced that there would be no extension to the transition period beyond 31 December 2020.
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