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Strategies & Market Trends : The Financial Collapse of 2001 Unwinding

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From: Elroy Jetson9/16/2024 9:05:09 PM
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UK goods exports to the EU sank 27% and import goods 32% in the years since the Brexit deal was signed. bbc.com

The study by the Birmingham-based Aston University Business School found the variety of UK exports has declined with 1,645 fewer types of British products exported to every EU country.

"The negative impacts of the Brexit trade agreement have intensified over time, with more pronounced trade declines in the most recent period."

Farmers, clothing makers, and wood and paper manufacturers have been among the hardest hit industries, with many sub-sectors' EU export value falling by well-over half. The biggest drop in export value was for edible fruit and nuts, which nosedived 73.5%.

Trade with smaller and more distant countries in the EU has been affected the most, while trade with larger and closer countries has been affected the least.

In response a government spokesperson told the BBC it will "work to improve our trade and investment relationship with the EU and tear down unnecessary trade barriers, while recognising that there will be no return to the single market, customs union or freedom of movement." LOL

The UK has become a member of the new Trans-Pacific Partnership which the US has not joined. - en.wikipedia.org

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