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TOKYO -- Companies from Asia are relieved by the last-minute trade deal reached between the U.K. and European Union, which spares them from new tariffs and further financial turmoil as they scramble to deal with the latest crisis thrown their way by the COVID-19 pandemic.
But the trade outlook between the sides remains foggy, as companies will be required to file forms and customs declarations. Automobile companies must deal with new rules of origin, which could add to their costs.
