How Brexit is already taking its toll on the U.K. economy – MarketWatch

With disruptions at European borders and supply chains perturbed by new tariffs, the U.K. economy has begun to show the negative economic impact of leaving Europes single market and customs union at the beginning of the year, several indicators show.

Read: High-tech British firms eye U.S. listings in blow to post-Brexit London stock market

The outlook: Prime Minister Boris Johnson recently qualified as teething problems the many incidents and trade disruptions triggered by the start of Brexit. But from British fishermen to City of London finance professionals, many rather expect the government to act to try soften the blow.

The massive economic hit triggered by the COVID-19 pandemic may help hide the detrimental Brexit impact to the general population in the first half of the year. But it is hard to see how the government will be able to mitigate the consequences of being an outsider to the single market without taking steps back toward the EU and opening further discussions.

Read: Why Europe Needs More Fiscal Stimulus

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How Brexit is already taking its toll on the U.K. economy - MarketWatch