The Post-Brexit Trade Deal Is Off to a Rocky Start

Trucks line up on the approach to the port of Dover, England, Dec. 11, 2020 (AP photo by Frank Augstein).
Trucks line up on the approach to the port of Dover, England, Dec. 11, 2020 (AP photo by Frank Augstein).
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The United Kingdom’s delayed departure from the European Union and the implementation of a hard-fought, post-Brexit trade agreement on Jan. 1 have led to the most significant rise in barriers between any major trading partners in recent memory. With trade volumes between the U.K. and the rest of the EU having grown significantly since the 1990s, particularly through the establishment of regional or global value chains, there is no meaningful precedent to draw on when projecting what comes next, other than the general experience that higher trade barriers mean less trade and more economic loss. It is early days, but […]

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