There could be a range of distortions & waiting times. Take for instance a Hyundai Kona, if it’s made in the EU then it could take the 10% tariff hit, wheras a Hyundai Kona made in South Korea would be subject to our new trade deal & be unaffected. For us the consumers the Kona would come from South Korea instead of the EU, for the EU they would lose the production, and for Hyundai it’s just logistical changes.
There will be winners & losers, just as there has been from the EU insisting we buy goods from them rather than our own families in places like Canada/NZ/Aus, for the last number of decades.