Motor manufacturers may face new tariff barriers—with implications for their business models. Photo: Chris Ison/PA Archive/PA Images
The newly signed EU-UK trade and co-operation agreement (TCA) does little to remove bureaucracy at the border, or facilitate trade in services, but it does at least remove all tariffs and quotas, right?
In practice, the answer is: it depends. As large retailers such as Debenhams and Marks & Spencer are somehow reportedly finding out for the first time, tariff-free trade is not unconditional.
This might surprise you. After all, Boris Johnson has been keen to highlight that the TCA will “enable UK goods to be sold without tariffs, without quotas in the EU market.”
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