THE BREXIT EFFECT
When the ‘deal’ was announced on Christmas Eve 2020, it seemed as though the bike industry had got a last-minute reprieve from paying tariffs on goods imported from the EU. However, it turned out that the 1,246-page UK-EU Trade and Co-Operation Agreement stated that only goods that “originate” in the EU or the UK can move between them tariff free. For bikes, it states: “The value of the non-EU or UK-sourced parts used to assemble it make up no more than 45% of the ex-works price.”
The implication is, as the Bicycle Association explains: “For bikes assembled
