Overview
- The agreement secures tariff‑free treatment on 98% of tariff lines, safeguarding about £2 billion of exports that were weeks from higher duties.
- UK officials project roughly £400 million in additional services exports with stronger access for financial firms and new digital trade rules including recognition of e‑contracts.
- Updated rules of origin will simplify tariff‑free access and allow more diverse inputs across supply chains, benefiting sectors such as automotive, drinks and pharmaceuticals.
- The upgrade concludes two years of talks to modernise the post‑Brexit carry‑over deal, with both governments publicly welcoming the outcome.
- Companies including Bentley, Jaguar Land Rover and Diageo endorsed the agreement, citing preserved access to a key market and support for rising Korean demand for UK brands.