Following its exit from the European Union, a key aspect of the United Kingdom's trade policy has been to conclude free trade agreements (FTAs) with other countries and trading blocs. To that end, the United Kingdom has been negotiating 'roll over' FTAs to replace the European Union ones. While FTAs offer significant benefits, they also raise new challenges for businesses which are not accustomed to navigating the complex rules of origin set out in these agreements.
The government has published its response to the consultation on the sectors that will be subject to a mandatory notification regime under the National Security and Investment Bill. The bill proposes to create a domestic investment screening regime in the United Kingdom. This article sets out an important reminder of what businesses need to be considering now in the context of this new screening regime, particularly in light of its retrospective nature.
EU state aid law ceased to apply to the United Kingdom on the expiry of the Brexit transition period on 31 December 2020 – save for limited exceptions as set out in the EU-UK Withdrawal Agreement 2018. In its place, the UK government proposes to establish a domestic subsidy control regime, on which it has launched a public consultation. This article explores the current state of play and what will happen next.
In September 2020 the government launched the Integrated Review of Security, Defence, Foreign Policy and Development to review all aspects of international and national security policy, such as ideology, defence, diplomacy, reputation, finance, trade policy, military power and national resilience. This article provides an overview of the developments which have occurred since the review was announced and the expected findings.
With the Department of International Trade set to replace the free trade agreements (FTAs) that the United Kingdom has enjoyed as part of its EU membership, this article considers the last 'hurrah' available under these agreements: the claim back of overpaid duties. Businesses should also consider their altered exposure to customs duties where the United Kingdom has not negotiated 'rollover' FTAs, or they have expired, and in light of new UK FTAs.
The government recently published the National Security & Investment Bill. In a marked contrast to its 'Global Britain' aspirations in a post-Brexit world, the bill will create a mandatory screening regime for investment in certain core areas of the UK economy in which national security risks are considered more likely to arise. This article considers the key implications of the proposed new regime for investment in the United Kingdom.