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Europe

While the European Union and the Euro zone create many common features across much of Europe, cultural and market distinctions are still very common across the continent and need to be taken into consideration by proactive exporters. The varied policies to fight COVID-19 implemented by the different national governments within the European Union have produced different results. The International Monetary Fund projections suggest EU growth of 4.4% in 2021 after contracting 6.6% in 2020. While the exit deal that the United Kingdom negotiated with the EU means that there will not be any tariffs levied or restrictive quotas imposed, there will be a series of new customs and regulatory checks, including rules of origin and stringent local content requirements. Wisconsin firms will need to evaluate how that will affect their distribution strategies.

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