Britain is forfeiting as much as £6.5bn in annual export revenue to the European Union because no post-Brexit agreement exists to allow manufacturers to avoid duplicate product testing and certification, according to a new report by the IPPR (a UK-based progressive think tank). The analysis, which researchers say is the first to isolate the regulatory barrier's effect from other economic disruptions such as Covid-19 and energy market shocks, found that motor vehicles, electronics, and pharmaceuticals are the hardest-hit sectors. The IPPR is urging the government to pursue a mutual recognition agreement with Brussels under which both sides would accept each other's product assessments, a step it says could recover losses equivalent to roughly three times the expected gains from Britain's trade deal with Japan, Canada, Australia, and Singapore.