The EU Reset: what the latest BCC report means for traders in 2026
The British Chambers of Commerce (BCC) has published a new report, The EU Reset: A Business Manifesto, offering an assessment of how UK–EU trade is working nearly five years on from the end of the transition period – and what needs to change.
The message from business is consistent and increasingly urgent. While companies have adapted to new trading arrangements, the report finds that trade with the EU is becoming harder, not easier, with growing regulatory divergence and compliance costs holding back growth.
The scale of the challenge is significant. The EU still accounts for 41.1% of all UK exports and supplies over half of UK imports, yet the report highlights that UK trade intensity has fallen by 15% since 2021, with a long-term 4% impact on UK GDP. More tellingly, over half of UK exporters (54%) now say the Trade and Cooperation Agreement is not helping them grow, a sharp increase on last year.
Looking ahead, the report points to a wave of further change that businesses need to prepare for in 2026 and beyond. This includes new EU customs reforms, changes to rules of origin, carbon border adjustment measures (CBAM), steel safeguard duties, product safety regulations, and the potential removal of low-value customs thresholds. For many businesses, particularly SMEs, this means more paperwork, higher costs, and tougher compliance requirements if action isn’t taken early.
So, what does this mean for UK traders?
For 2026, preparation is key. Businesses should be:
- Reviewing their customs, origin and VAT processes
- Understanding upcoming EU regulatory and border changes
- Assessing supply chains and exposure to carbon and sustainability rules
- Making sure they have access to trusted advice and practical support
The BCC report provides a comprehensive overview of the issues facing UK–EU traders and a roadmap for what needs to change. It’s well worth a read for any business trading with the EU.
This is also where practical, expert support can make a real difference. Our 23-strong international trade team works closely with exporters and importers to help them navigate evolving customs, regulatory and compliance requirements with confidence. Alongside this, our partner consultancy services – such as the Customs Health Check and CBAM consultancy – can provide valuable insight, identify risks, and help businesses prepare for the changes ahead in 2026.
Read the full BCC report: The EU Reset – A Business Manifesto