NEWS

Brexit and its effects on customs clearance and on the trade with the United Kingdom

An agreement will be reached and a transition period will be applied

The Withdrawal Agreement will be accepted, the UK will withdraw from the EU, and the transition period will run until 31 December 2020..

Main consequences:

•  The UK will become a non-EU country (a third country), but the free movement of goods between the UK and the EU will continue during the transition period until 31 December 2020. The rules, restrictions and other formalities applied to the trade between the EU and third countries will not be applied during the transitional period.

•    The obligation for customs clearance of goods moving between the UK and the EU will begin when the transition period is over.

The effects of Brexit on the trade with the UK – who should be prepared?

If no withdrawal agreement is reached, then:

•    all businesses, including small and medium-sized businesses, need to be prepared for Brexit. Businesses should, without delay, assess the consequences of Brexit for their operations.

•      the customs authorities of the EU Member States have to apply all rules and formalities concerning the trade between the EU and third countries on goods imported from the UK or exported to the UK.

PFS has warehouses in the UK and Germany where we have professional operation team consisting of local people and Chinese staffs. We have our standardized business operations and local resources.

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