UK Giving Mixed Signals on AEO Importance After Brexit, BBC Report Says
There seems to be some confusion over whether Authorized Economic Operator trusted trader status will continue to offer the same benefits to United Kingdom participants after March 29 if there's a no-deal Brexit, the BBC said in a March 19…
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report. While some have emphasized that AEO status could ease trade frictions after Brexit, the European Commission said in a notice last year that AEO authorizations from the U.K. would no longer be considered valid in the EU after Brexit. There's been an increase in U.K. AEO applications in recent months, but the U.K. is now urging companies to take part in the U.K.'s Transitional Simplified Procedures instead, the BBC said. "AEO status will only suit traders that regularly interact with customs and carry out high volumes of customs transactions," an HM Revenue and Customs spokesman told the BBC. "For most UK firms TSP will be the most practical system to import into the UK from the EU if we leave without a deal."