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Fact checked by Eddie Regan, BiP Solutions Principal Procurement Consultant Brexit has dramatically changed the UK’s import and export-dynamic. Pre-Brexit trade predictions estimated a 15% decline in UK imports and exports. Typically, the UK imports more than it exports. However, several factors skewed this outcome.
On a day-to-day basis, restrictions arise most commonly in the context of export controls and economic sanctions. Ultimately, CFIUS exists to identify and address national security risks that cannot be ameliorated through another legal regime such as export controls or Foreign Ownership, Control or Influence (FOCI) mitigation.
Given how frequently the media refers to the current situation as a trade war, companies might also argue that certain tariffs constitute acts of war, although the likelihood that this argument gains purchase is uncertain.
As the worlds largest buyer spending nearly $1 trillion on procurement contracts each year, the federal government should be promoting agility, competition and results. pharmaceutical demand, weaponization of pharmaceutical exports, and other related issues. But under President Trumps leadership, revolutionary reform is finally here.
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