On 1st January 2021, the UK officially completed the transition period for the country’s exit from the European Union.
NAUMD’s own Steve Zalkin recently joined with sister organization PCIAW® in a discussion of the new Brexit trade deal and what it may mean for American companies trading with the UK within the professional clothing industry.
Zalkin believes the agreement will have a significant positive impact on the UK economy. Approximately 49% of UK trade is done with EU countries – having an ability to purchase and supply goods and services without tariffs and quotes will enhance the UK economy more than nationalist policies. And he notes the Brexit agreement may cause more confusion and paperwork for all parties involved.