ILMA Compoundings - November/December 2020 - 31

World Affairs
Parallel with Brexit talks, the U.K. is crafting trade agreements with countries across the globe. A trade deal with the
U.S. is likely and could be mutually favorable because of
the two nations' shared culture and U.S. President Donald
Trump's Anglophile tendencies, inspired by his Scottish
mother, Wright said.
" He was always quite keen to be first in the queue to do
a trade deal with the U.K., and the talks are progressing
quite nicely, " he said. " Any North American manufacturer or
supplier of products coming into the U.K. from abroad will
be fine. They will be better placed to service the needs of this
country. "
Schiefer agrees that complicated and expensive documentation and taxation arising from the final Brexit arrangement
could benefit businesses not tied to the U.K. or the EU.
" Some of our U.K. clients might buy directly from the U.S.,
as the relation between Trump and Johnson is much better
than theirs with the rest of the world, " he said.
Jarquin advises close examination of the " overarching
theme " of trade wars, of which Brexit is simply one part.
" Watching how the U.K. is going to create trade agreements
with all these countries around the world certainly will be
interesting, " she said. " We're learning in general how companies can find a way to be resilient through trade wars. "

Finding Agility
The 11th hour is creeping up, but even the 1998 Good
Friday Agreement ending strife in Northern Ireland " was
completed on the Tuesday after Easter Monday, " said
Wright. " In these political negotiations, they could come up
with a deal on Jan. 5, because these things do tend to go to
the last minute. "
The drawn-out negotiations aren't helping companies
trying to plan their way out of COVID-19 and into a postBrexit world. Some companies have postponed investments
for more than a year and are stopping production in the
U.K., said Schiefer. " Car manufacturers are heavily affected,
as well as all subcontractors, " he added.
Jarquin sees some companies returning to themes from
pre-COVID-19, pre-Brexit acceleration days. Those with
the liquidity are doubling down, even amid downturn and
uncertainty. " They're taking a risk, " she said. " A competitor
may be laying off, and they sweep up those people. Through
any financial crisis, it's always about how financially stable
you are - and your risk appetite. "
As Brexit rolls out, sustainability will be a refrain. Some
wonder if the U.K. would loosen the strict sustainability
goals and regulations set by the EU. But as Jarquin noted,

suppliers must be aware of the demands of end users farther
along the production chain, even if it's an electric car
manufacturer demanding use of sustainably manufactured
lubricants in mining the lithium that powers its batteries.
" All these trends are only going to be accelerated by Brexit
and COVID, " she said.
The EU is concerned that the U.K. could turn into " a
low-regulation, low-taxation economy like Singapore, sitting
just off the coast of the EU and diverting investment and
resources away from the EU and having an unfair competitive advantage, " noted Wright. " Although, at the moment,
the U.K. has said it will be a global champion of environmental issues. It will adopt the regulations of the EU as
much as possible. "
Despite the upheavals of 2020, lubricants have been
" relatively resilient, " said Jarquin.
She expects more of the same post-Brexit: " The lubricants
business is an old player. Independents in the U.K. are
founded on strong values and knowledge. It's not like they're a
flash-in-the-pan business. There's a strength and a resilience in
the lubricant industry that may not exist in other industries.
Decades and decades of experience will help these people
through. That's not to say they should minimize the gravity of
what's about to happen, but these guys know their stuff. "
McCormick is a Pennsylvania-based freelance writer.

31



ILMA Compoundings - November/December 2020

Table of Contents for the Digital Edition of ILMA Compoundings - November/December 2020

ILMA Compoundings - November/December 2020 - Cover1
ILMA Compoundings - November/December 2020 - Cover2
ILMA Compoundings - November/December 2020 - 1
ILMA Compoundings - November/December 2020 - 2
ILMA Compoundings - November/December 2020 - 3
ILMA Compoundings - November/December 2020 - 4
ILMA Compoundings - November/December 2020 - 5
ILMA Compoundings - November/December 2020 - 6
ILMA Compoundings - November/December 2020 - 7
ILMA Compoundings - November/December 2020 - 8
ILMA Compoundings - November/December 2020 - 9
ILMA Compoundings - November/December 2020 - 10
ILMA Compoundings - November/December 2020 - 11
ILMA Compoundings - November/December 2020 - 12
ILMA Compoundings - November/December 2020 - 13
ILMA Compoundings - November/December 2020 - 14
ILMA Compoundings - November/December 2020 - 15
ILMA Compoundings - November/December 2020 - 16
ILMA Compoundings - November/December 2020 - 17
ILMA Compoundings - November/December 2020 - 18
ILMA Compoundings - November/December 2020 - 19
ILMA Compoundings - November/December 2020 - 20
ILMA Compoundings - November/December 2020 - 21
ILMA Compoundings - November/December 2020 - 22
ILMA Compoundings - November/December 2020 - 23
ILMA Compoundings - November/December 2020 - 24
ILMA Compoundings - November/December 2020 - 25
ILMA Compoundings - November/December 2020 - 26
ILMA Compoundings - November/December 2020 - 27
ILMA Compoundings - November/December 2020 - 28
ILMA Compoundings - November/December 2020 - 29
ILMA Compoundings - November/December 2020 - 30
ILMA Compoundings - November/December 2020 - 31
ILMA Compoundings - November/December 2020 - 32
ILMA Compoundings - November/December 2020 - 33
ILMA Compoundings - November/December 2020 - 34
ILMA Compoundings - November/December 2020 - 35
ILMA Compoundings - November/December 2020 - 36
ILMA Compoundings - November/December 2020 - 37
ILMA Compoundings - November/December 2020 - 38
ILMA Compoundings - November/December 2020 - 39
ILMA Compoundings - November/December 2020 - 40
ILMA Compoundings - November/December 2020 - 41
ILMA Compoundings - November/December 2020 - 42
ILMA Compoundings - November/December 2020 - 43
ILMA Compoundings - November/December 2020 - 44
ILMA Compoundings - November/December 2020 - Cover3
ILMA Compoundings - November/December 2020 - Cover4
https://www.nxtbook.com/ygsreprints/ILMA/G126213ILMA_vol71_no6
https://www.nxtbook.com/ygsreprints/ILMA/G125546_ILMA_vol71_no5
https://www.nxtbook.com/ygsreprints/ILMA/G124996_ILMA_vol71_no4
https://www.nxtbook.com/ygsreprints/ILMA/G123886_ILMA_vol71_no3
https://www.nxtbook.com/ygsreprints/ILMA/G123315_ILMA_vol71_no2
https://www.nxtbook.com/ygsreprints/ILMA/G122980_ILMA_vol71_no1
https://www.nxtbook.com/ygsreprints/ILMA/G121540_ILMA_vol70_no11
https://www.nxtbook.com/ygsreprints/ILMA/G120882_ILMA_vol70_no10
https://www.nxtbook.com/ygsreprints/ILMA/G120035_ILMA_vol70_no9
https://www.nxtbook.com/ygsreprints/ILMA/G121XXX_ILMA_vol70_no8
https://www.nxtbook.com/ygsreprints/ILMA/G120XXX_ILMA_vol70_no7
https://www.nxtbook.com/ygsreprints/ILMA/G119XXX_ILMA_vol70_no6
https://www.nxtbook.com/ygsreprints/ILMA/G118112_ILMA_vol70_no5
https://www.nxtbook.com/ygsreprints/ILMA/G117382_ILMA_vol70_no4
https://www.nxtbook.com/ygsreprints/ILMA/G116888_ILMA_vol70_no3
https://www.nxtbook.com/ygsreprints/ILMA/G115555_ILMA_vol70_no2
https://www.nxtbook.com/ygsreprints/ILMA/G114774_ILMA_vol70_no1
https://www.nxtbook.com/ygsreprints/ILMA/g110500_ILMA_vol69_no12
https://www.nxtbook.com/ygsreprints/ILMA/g110500_ILMA_vol69_no11
https://www.nxtbook.com/ygsreprints/ILMA/g110500_ILMA_vol69_no10
https://www.nxtbook.com/ygsreprints/ILMA/g109884_ILMA_vol69_no9
https://www.nxtbook.com/ygsreprints/ILMA/g109284_ILMA_vol69_no8
https://www.nxtbook.com/ygsreprints/ILMA/g108494_ILMA_vol69_no7
https://www.nxtbook.com/ygsreprints/ILMA/g107507_ILMA_vol69_no6
https://www.nxtbook.com/ygsreprints/ILMA/g106483_ILMA_vol69_no5
https://www.nxtbook.com/ygsreprints/ILMA/g105803_ILMA_vol69_no4
https://www.nxtbook.com/ygsreprints/ILMA/g104743_ILMA_vol69_no3
https://www.nxtbook.com/ygsreprints/ILMA/g103647_ILMA_vol69_no2
https://www.nxtbook.com/ygsreprints/ILMA/g102869_ILMA_vol69_no1
https://www.nxtbook.com/ygsreprints/ILMA/g101930_ILMA_vol68_no12
https://www.nxtbook.com/ygsreprints/ILMA/g100836_ILMA_vol68_no11
https://www.nxtbook.com/ygsreprints/ILMA/g99200_ILMA_vol68_no10
https://www.nxtbook.com/ygsreprints/ILMA/g98468_ILMA_vol68_no9
https://www.nxtbook.com/ygsreprints/ILMA/g97711_ILMA_vol68_no8
https://www.nxtbook.com/ygsreprints/ILMA/G96767ILMA_vol68_no7
https://www.nxtbook.com/ygsreprints/ILMA/G95397ILMA_vol65_no6
https://www.nxtbook.com/ygsreprints/ILMA/G94323ILMA_vol68_no5
https://www.nxtbook.com/ygsreprints/ILMA/G93127_ILMA_vol69_no4
https://www.nxtbook.com/ygsreprints/ILMA/G91785_ILMA_vol68_no3
https://www.nxtbook.com/ygsreprints/ILMA/G90956_ILMA_vol68_no2
https://www.nxtbook.com/ygsreprints/ILMA/G89146_ILMA_vol68_no1
https://www.nxtbook.com/ygsreprints/ILMA/G87981_ILMA_vol67_no12
https://www.nxtbook.com/ygsreprints/ILMA/G85409_ILMA_vol67_no11
https://www.nxtbook.com/ygsreprints/ILMA/G83595_ILMA_vol67_no10
https://www.nxtbook.com/ygsreprints/ILMA/G81672_ILMA_vol67_no9
https://www.nxtbook.com/ygsreprints/ILMA/G80238_ILMA_vol7_no8
https://www.nxtbook.com/ygsreprints/ILMA/G79388_ILMA_vol7_no7
https://www.nxtbook.com/ygsreprints/ILMA/G78361_ILMA_vol7_no6
https://www.nxtbook.com/ygsreprints/ILMA/G77448_ILMA_vol7_no5
https://www.nxtbook.com/ygsreprints/ILMA/G75899_ILMA_vol67_no4
https://www.nxtbook.com/ygsreprints/ILMA/G75036_ILMA_vol67_no3
https://www.nxtbook.com/ygsreprints/ILMA/G72720_ILMA_vol67_no2
https://www.nxtbook.com/ygsreprints/ILMA/G72220_ILMA_vol67_no1
https://www.nxtbook.com/ygsreprints/ILMA/G70970_ILMA_vol66_no12
https://www.nxtbook.com/ygsreprints/ILMA/G69813_ILMA_vol66_no11
https://www.nxtbook.com/ygsreprints/ILMA/G67522_ILMA_vol66_no10
https://www.nxtbook.com/ygsreprints/ILMA/G66343_ILMA_vol66_no9
https://www.nxtbook.com/ygsreprints/ILMA/G64859_ILMA_vol66_no8
https://www.nxtbookmedia.com