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British PM asks businesses to prepare for no post-Brexit free trade agreement with EU

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British PM asks businesses to prepare for no post-Brexit free trade agreement with EU

UK PM Boris Johnson stated in a press release that the EU is seeking to set up a post-Brexit free commerce settlement with Britain just like the one it has with Australia and never just like the one it shares with Canada.

File picture of British Prime Minister Boris Johnson and EU chief Ursula von der Leyen (Photograph Credit: Reuters)

British Prime Minister Boris Johnson issued a press release on Friday asking companies within the UK to “prepare” forward of the January 1, 2021 deadline. The announcement comes days after the European Union (EU) failed to succeed in a consensus in response to Britain’s demand for a free commerce settlement (FTA) following its exit from the buying and selling bloc on the finish of this 12 months.

Reviews are deciphering Johnson’s assertion as a warning that the UK should put together for the potential for a no post-Brexit FTA with the EU. Britain had first voted to depart the 27-member EU in 2016 by means of a referendum. It formally left the buying and selling bloc in January of this 12 months and entered right into a transition interval with unchanged guidelines until January 1, 2021.

Reviews counsel that British negotiators sought a free commerce settlement (FTA) with the EU just like the one Canada has with the buying and selling bloc. Nonetheless, evidently the EU has determined to supply Britain an FTA just like the one it has with Australia which is predicated on ideas of worldwide free commerce.

“We at all times knew that there could be change on January 1 no matter kind of relationship we had. And so now could be the time for our companies to prepare, and for hauliers to prepare, and for travellers to prepare,” British Prime Minister Boris Johnson stated in his assertion issued from Downing Road on Friday.

The assertion went on so as to add, “From the outset we had been completely clear that we wished nothing extra difficult than a Canada-style relationship, primarily based on friendship and free commerce. To guage by the most recent EU summit in Brussels that will not work for our EU companions.”

“They [EU] need the continued capability to regulate our legislative freedom, our fisheries, in a manner that’s clearly unacceptable to an unbiased nation,” the assertion issued by PM Boris Johnson stated.

In the meantime, President of the EU Fee, Ursula von der Leyen reiterated that the buying and selling bloc will proceed to work for a take care of Britain, “however not at any worth”. The EU’s negotiating group is scheduled to go to London subsequent week to proceed negotiations.

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