Posted by JasonB on 02/04/2021 06:51:25:
As it is made in the US what has Brexit got to do with it?
Now we have left EU, the UK doesn't have a trade deal with the USA! For the time being, trade with the US has become more expensive and complicated, because we are no longer part of the EU trade bloc.
Perhaps the biggest hit to imports and exports is simply due to a large complex system changing: for US trade, it's now necessary for British Exporters to understand and abide by the USA Harmonised Tariff System as applied to non-favoured nations. Anyone who fancies a headache can look HTS up on the web! Now EU rules don't apply to Americans it is unclear what rules are applied to goods imported from the USA into the UK. Everything has changed, or might have, or will do.
The advantage of Brexit is it allows the UK to negotiate new trade deals free of EU Rules. A disadvantage is many new trade deals have to be agreed around the world, and that takes time.
Coincidentally we have the VAT change too. I have no idea how US exporters feel about collecting VAT on behalf of the British Government! I suspect big companies will do it but small and medium suppliers may disengage entirely, or wait for the dust to settle before exporting to the UK. Quite likely they will trade through an agent set up to sort out customs and tax issues, but I'm not sure if services of that kind are available yet.
Dave