New Brexit Legal Guide section available: Trade – The new relationships

The updated Trade: The new relationships section of our Brexit Legal Guide is now available.

This provides a useful overview, amongst other things, as to whether:

• during the transition period, the UK remains in the Single Market and the Customs Union, and there continues to be free movement of goods, persons, services and capital between the UK and the EU;
• there are divergences in the UK’s and EU’s positions outlined in their negotiation mandates on the future trade relationship;
• the extensive level-playing field provisions proposed by the EU may be incorporated in the type of trade relationship pursued by the parties;
• the structure of the future relationship sought after by the UK that calls for a number of legally distinct agreements (and different dispute settlement mechanisms tailored to the agreement/ situation in question) is in line with CETA-type trade relations;
• the UK and the EU can agree a comprehensive trade agreement in time before the July 2020 deadline to approve extension of the transition period.

If you would like to discuss specific arrangements for support through the risks of the move to an uncertain future relationship, on how you might express the concerns of your business to governments, on dispute risks that may arise, or on any other questions or challenges you have, please do contact your regular Herbert Smith Freehills relationship contacts, or otherwise any of our experts listed here.