How Brexit affected the trade of UK firms

The UK left the EU’s single market and customs union at the start of 2021, entering unto the Trade and Cooperation Agreement with the EU. Rebecca Freeman, Marco Garofalo, Enrico Longoni, Kalina Manova, Rebecca Mari, Thomas Prayer and Thomas Sampson look into what effect this has had on UK-EU trade, and find that it’s the smaller UK firms that were hit the hardest, with a significant drop of their exports to the EU.