The conclusion of an agreement for Great Britain’s exit from the European Union probably couldn’t have happened at a worse time, coming as it did on the heels of the coronavirus pandemic.
This year, the focus is on determining what broke down across supply chains during 2020, and figuring out what changes need to be made to drive success in 2021.
U.K. Chancellor Rishi Sunak unveiled a roster of eight English freeports, low-tariff business zones being created to stimulate trade and investment in the wake of Brexit and the coronavirus crisis.
A surge of imports into the U.S. economy shows little sign of slowing down, clogging American ports and highlighting ways the pandemic is still causing imbalances in the global recovery.
For U.S. politicians, China’s potential to dominate sensitive cutting-edge technologies poses one of the biggest geopolitical threats of the next few decades. President Xi Jinping is similarly worried the U.S. will block China’s rise, and is unveiling plans for greater self-sufficiency.
Susan Boylan, director analyst in the Logistics Strategy and Operations Team of Gartner, Inc., describes the key changes in tariffs, immigration rules and customs clearance procedures that U.K. logistics providers are grappling with right now as a result of Brexit.
Overwhelmed U.S. ports, elevated freight costs and accidents that sent goods plunging to the bottom of the ocean are causing headaches for U.S. retailers already reeling from the pandemic.