Brexit: A Process, Not An Event.

On December 24, 2020, the United Kingdom ("UK") and the European Union ("EU") concluded the EU-UK Trade and Cooperation Agreement ("TCA") which came into force on January 1, 2021. While the UK was in the EU, trade between the two blocs was governed by the EU's Single Market and Customs Union rules. In essence, this free movement standard allowed goods and services to travel between the UK and EU without customs checks or other border formalities. However, that scenario has now changed, and the UK has left the EU's Customs Union causing the once "free flowing" trade in goods between the two blocs to be subjected to customs controls (i.e., security and safety declarations).

Under the UK-EU agreement, originating goods only will benefit from the liberalized market access if they satisfy the new rules of origin requirements. The TCA contains rules of origin provisions, requiring that tariff-free status be conferred only on goods with a certain percentage of parts made