Hal Shapiro Quoted in The Washington Post on Trade Implications for U.K. following Brexit Vote
The Washington Post has quoted Akin Gump international trade partner Hal Shapiro in its article “K Street mans hotlines, forms task forces following Brexit,” discussing the actions taken by law firms following the vote last week in the United Kingdom to leave the European Union.
“We’re really in uncharted territory with the breakup of the U.K. and the E.U.,” said Shapiro, who formerly worked in the Office of the U.S. Trade Representative. Akin Gump, the article notes, is launching a new blog, “Beyond Brexit,” this week as a resource for corporate clients.
Shapiro said the U.K. has long been a leader among E.U. members in negotiating trade deals with the rest of the world, and its withdrawal from the body could affect the way Britain trades its products and services. That would mean that a variety of products such as cars, cheese and wine, currently flowing freely between the U.K. and the rest of the E.U., could become subject to duties and tariffs depending on how the U.K. structures its new trade agreements.
“Now that Britain has decided to leave the E.U., it’s going to have to decide how it wants to deal with the E.U.,” Shapiro said. “Does it want to have an open market, a closed market, protect certain sectors? These are all questions the U.K. will have to determine for itself.”