In November 2017, the UK Government took its first legislative steps in preparation for its post-Brexit trade regime. On November 7, the Trade Bill was introduced for a first reading in the House of Commons. Separate from the imminent trade deal it must strike with the EU (once progress on Brexit withdrawal negotiations are deemed satisfactory by all parties concerned), the UK is now sketching out its own international trade powers that will allow it to shape its relationships with partners worldwide.
Subsequently, on November 20, the Taxation (Cross-Border Trade) Bill (the “Customs Bill”) was introduced for a first reading in the House of Commons. The core elements of these two bills are described below. Continue Reading UK Government Prepares for Post-Brexit Trade and Customs Regimes in Two New Bills