Companies and consumers will feel the effects of a no deal Brexit immediately, warns EU Affairs Minister Hans Dahlgren. Legally, the UK will cease to be an EU member state, EU laws will cease to apply and the UK will be treated like a “third country”, with a range of tariffs and checks.
The minister gives a number of examples of industries that will be affected; drinks will increase by 20 per cent, transport equipment by 5 per cent and clothing by 12 per cent. There is also a risk that duties ranging from 18 to 43 per cent could be levied on agricultural goods.
He advises individuals travelling to the UK from the EU to review their insurance coverage, since the European Health Insurance Card will no longer be valid in the UK.
More than 5,000 Swedish firms will receive a letter from Swedish Customs in the coming days, urging them to prepare for a hard Brexit. If the UK does crash out of the EU on 29 March, companies will need to prepare for an EU third-country customs regime, warns the government agency
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