UK losing up to £6.5bn a year in EU trade due to mismatched product rules

The UK is losing up to £6.5 billion a year in trade with the EU due to mismatched product rules. This is because the UK and EU have different testing standards, which has forced companies to abandon exporting to the EU or set up subsidiaries within the trade bloc. As a result, the UK is missing out on annual exports that could be worth as much as £6.5 billion.

Why it matters

The UK's failure to align testing standards with the EU is forcing companies to abandon exports, costing the UK 0. 18% of national income.

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