United Kingdom Petrochemicals Q1 2020
Brexit poses significant risks for British petrochemicals. While the potential for a 'hard' Brexit, in which UK trade issubjected to tariffs and non-tariff barriers, has receded, tariff free, frictionless trade is not guaranteed for the petrochemicals industrywith no commitment to long-term regulatory alignment. Membership of Echa and some recognition of UK adherence toRegistration, Evaluation, Authorisation and Restriction of Chemicals regulations will be crucial to continued growth over themedium-to-long term. Without continuity of single market access, the long-term position of some British producers is in doubt withthe potential for reduced investment and some plant closures.
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