Reuters on Wednesday posted a video showing David Davis, the United Kingdom’s (UK) Brexit minister stating the necessity of creating a “deal which makes the United Kingdom a global trader”. In this statement, Davis also mentioned the importance of retaining a strategic partnership with Europe. To this end, Minister Davis stated the importance of forging a customs deal that makes trade between Europe and the UK as “frictionless as possible”.
Last year, trade between the UK and the EU totaled roughly 44% of Britain’s total exports in goods and services, which is equal to £220 billion. Retaining a good customs relationship between the two nations is in both Europe’s and the UK’s economic interest.
For global logistics and trade compliance professionals, 2022 has been the year of significant changes, and CBP is keeping us on our toes as secure trade becomes an even greater focus across companies and customs organizations worldwide. As a business, your goal is to keep goods moving seamlessly, which is why it’s more important now than ever to understand how changes to the program will affect operations across your enterprise.