Brexit just happened

[JR16]

8 min ago Britain left the EU... I realize there is a transition period, but to my British TRFers what do you think the impact, if any, will be on the watch industry (both domestic and Swiss/German/Japanese brands) within Britain over the next 1, 5, 10 years ?


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[Robbyman]

Today we are free from an undemocratic dictatorship.

So happy and proud of all those who voted to bring back our sovereignty, to the bastion of western democracy since the Middle Ages.

[mongrelnomoad]

Sigh.

In answer to you, OP, and ignoring the rubbish above, nobody knows. A functional Brexit doesn’t happen till the end of the transition period on 1st Jan 2021, and will depend on the results of the trade negotiations with the EU and the rest of the world between now and then.

All signs point to tariffs and barriers with the EU though, which means imports and exports in each direction will be more expensive - as understanding the EU project and the UK government’s stated position, frictionless trade is simply not compatible with the “four freedoms”. It will be interesting to see how it all works out as many European (including “British”) companies were and are multi-national in scope, drawing on suppliers and expertise from around the 28, now 27, states. Britain excising itself with a “WTO” or “Canada-style” trade deal will seriously damage those chains until British talent is ‘onshored’ to the continent.

Through the transition period, Britain has a free trade agreement with Japan and Switzerland through the EU. Unless it can negotiate one, on 1/1/2021, it will have none.

Contrary to what the Prime Minister claims, Brexit is not “done”. It has only just begun.

[JR16]

Originally Posted by mongrelnomoad

Sigh.

In answer to you, OP, and ignoring the rubbish above, nobody knows. A functional Brexit doesn’t happen till the end of the transition period on 1st Jan 2021, and will depend on the results of the trade negotiations with the EU and the rest of the world between now and then.

All signs point to tariffs and barriers with the EU though, which means imports and exports in each direction will be more expensive - as understanding the EU project and the UK government’s stated position, frictionless trade is simply not compatible with the “four freedoms”. It will be interesting to see how it all works out as many European (including “British”) companies were and are multi-national in scope, drawing on suppliers and expertise from around the 28, now 27, states. Britain excising itself with a “WTO” or “Canada-style” trade deal will seriously damage those chains until British talent is ‘onshored’ to the continent.

Through the transition period, Britain has a free trade agreement with Japan and Switzerland through the EU. Unless it can negotiate one, on 1/1/2021, it will have none.

Contrary to what the Prime Minister claims, Brexit is not “done”. It has only just begun.

Thanks, appreciate the non-political insight. We don’t always get the best coverage here across the pond of all the implications and impact of Brexit .


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[FTX I]

Ibtl