BREXIT UPDATE – 12th March

• U.K. exports to the EU fell more than 40% in January compared to a month earlier, according to new data from the ONS.
The decline in non-EU exports was less drastic, suggesting a clear Brexit effect – but the government said December stockpiling
is also to blame.

• British exporters are angry that they continue to face the full panoply of EU customs controls, whereas EU imports will
be waved into Britain until 2022. The easement has been welcomed by retailers who import from the EU, but leaves a bitter taste
for exporters.

• We have an explainer on the form of legal action the EU could take against the U.K. after unilaterally changing the trade
rules relating to Northern Ireland. We’re hearing the legal action may come next week.