UK, Canada Agree to Transitional Trade Measures

The United Kingdom and Canada agreed to transitional measures to maintain the flow of goods after the U.K. leaves the European Union Jan. 1, the U.K. said Dec. 22. The two countries signed a memorandum of understanding that will maintain tariff-free trade for companies exporting goods that are eligible for preferential treatment under the UK-Canada Trade Continuity Agreement (TCA), which is expected to take effect early in 2021, the U.K. said. The MOU will also maintain tariff rate quotas and rules of origin for products covered under the TCA.