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U.K. Economy Still Faces Trade Pain After Dodging No-Deal Brexit
Britain averted the damage of a complete breakdown in formal trade ties with the European Union, but it’ll still confront the biggest reset of an advanced economy’s commercial relations since World War II. The 11th-hour pact clinched by Prime Minister Boris Johnson on Thursday allows the final phase of Brexit to proceed with a relatively orderly divorce on Jan. 1. The U.K still faces a rude awakening though, as a new customs regime of form-filling and monitoring ends the seamless trade arrangements that have been in place since the 1970s. That risks disruptions at ports and even food shortages in supermarkets, ... (full story)