What Trade Agreements Does the Uk Have

As the United Kingdom continues to navigate its way through the complexities of Brexit, there has been increased focus on the trade agreements that the country has with other nations. With the UK now needing to establish its own independent trade relationships, it’s important to understand which countries the UK currently has trade agreements with.

At present, the UK has trade agreements with over 90 countries, primarily through its membership in the European Union. However, since leaving the EU on January 31, 2020, the UK has now embarked on establishing new trade agreements with countries outside the EU.

Here’s a closer look at the trade agreements that the UK currently has in effect:

1. EU countries: As a former member of the EU, the UK has benefitted from free trade agreements with other EU countries. However, following Brexit, the UK has now entered into a new trade agreement with the EU that took effect on January 1, 2021.

2. Canada: The Canada-UK Trade Continuity Agreement was signed in November 2020 and came into effect on January 1, 2021. It ensures that Canadian and UK businesses can continue to trade freely and benefit from low tariffs.

3. Japan: The UK-Japan Comprehensive Economic Partnership Agreement was signed in October 2020, and is set to come into effect in early 2021. The agreement ensures that UK businesses can continue to trade with Japan under preferential terms.

4. Norway, Iceland, and Liechtenstein: The UK has a trade agreement with these countries through the European Free Trade Association (EFTA). This agreement ensures that UK businesses can continue to trade with these countries under preferential terms.

5. South Korea: The UK-South Korea Free Trade Agreement was signed in August 2019, and came into effect on January 1, 2021. The agreement ensures that UK businesses can continue to trade with South Korea under preferential terms.

6. Switzerland: The UK has a trade agreement with Switzerland through the Swiss-UK Trade Continuity Agreement. This agreement ensures that UK businesses can continue to trade with Switzerland under preferential terms.

7. Turkey: The UK has a trade agreement with Turkey through the UK-Turkey Free Trade Agreement. This agreement ensures that UK businesses can continue to trade with Turkey under preferential terms.

8. United States: The UK and US have been in talks to establish a trade agreement since 2017. However, no agreement has been reached as of yet.

As you can see, the UK currently has trade agreements with a diverse range of countries, from Canada to South Korea. As the UK continues to establish its independent trade relationships, it will be interesting to see which new agreements are formed in the years ahead.