Beyond Tinkering: Is a “Swiss-Style” Reset Next for UK–EU Trade?
Sector-by-sector patches to the Trade and Cooperation Agreement have not reversed the underlying decline in EU–UK trade: exports, and more recently imports, keep falling in both value and the variety of products traded. Regulation-heavy sectors such as chemicals, pharmaceuticals and medical devices are hit hardest, carrying duplicate compliance costs and parallel certification that fragments supply chains. Rather than more sector-specific fixes, the piece argues ministers should treat the relationship as a strategic choice about regulatory alignment — deciding which areas justify following EU rules in exchange for smoother market access — with real consequences for the UK’s long-term growth model.
Originally published on Substack, March 21, 2026.