UK importers, businesses still overwhelmed by impact of Brexit

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Importers and many businesses remain overwhelmed by the impact of Brexit with over 39 per cent of importers reporting that they are still struggling with new Customs duties and other issues, according to new UK government figures. Retailers and other companies that import products from the Far East to the UK are facing major supply chain disruptions and increased logistics costs resulting from the global shortage of shipping containers and challenges in accessing ocean freight capacity, adding to continuing Brexit-related and Covid-related challenges. A growing number of British online retailers are seeking to ease the extra Customs and tax administration costs involved in trading with the EU by shifting stock from UK warehouses to storage facilities on the Continent, as per a report.