LONDON (Reuters) - The British government will set out in the coming days which European Union trade deals it does not believe will be rolled over before its March 29 exit from the bloc, trade minister Liam Fox said on Wednesday. Britain is seeking to replicate around 40 EU trade deals covering trade with more than 70 countries, but has so far only succeeded in agreeing a handful. “The government is assessing where we are with each of these agreements. Where we believe it will not be possible to fully replicate, we will set out a technical notice in the coming days,” Fox told parliament. Reporting by Kylie MacLellan, editing by Elizabeth Piper … [Read more...] about UK government will set out which EU trade deals will not be…
Eu trade deals
The UK government has admitted that it will fail to roll over all trade treaties involving the European Union and third countries by 29 March, with international trade secretary Liam Fox confirming that negotiations with some countries have now been prioritised over others. Fox’s department made the admission in the minutes of a meeting with senior business figures from companies including Burberry, Mulberry and Hornby, which were released on Monday (11 February). The UK is seeking to roll over around 40 trade agreements between the EU and third countries which account for around 12% of its total international trade. Government ministers have consistently stated that all countries had agreed in principle to roll over their deals with the EU to the UK after it leaves the bloc. Will the EU’s trade deals with countries around the world continue to apply in the UK after Brexit day on 29 March? The answer remains unclear after International Trade Secretary Liam Fox repeatedly … [Read more...] about UK admits it will fail to roll over EU trade deals
As a full member of the European Union since 1973 the UK has effectively outsourced responsibility for making trade deal deals with other countries to the EU institutions. And those institutions have been busy. The EU now has more than 50 trade deals of various sorts with third countries either in place, partly in place, or pending. A full list can be found on the European Commission’s website here. Join Independent Minds For exclusive articles, events and an advertising-free read for just £5.99 €6.99 $9.99 a month Start your free trial Get the best of The Independent With an Independent Minds subscription for just £5.99 €6.99 $9.99 a month Start your free trial Get the best of The Independent Without the ads – for just £5.99 €6.99 $9.99 a month Start your free trial These range from deals with large economies such as Canada and Japan, to middling ones such as Mexico, South Korea and Turkey, to small states such as Moldova and … [Read more...] about How can the UK continue trading on current terms with those third countries covered by EU trade deals?
The EU stands firm in its refusal to include agriculture in a new trade deal with the United States, European Trade Commissioner Cecilia Malmstroem said Wednesday. Malmstroem met in Washington with US Trade Representative Robert Lighthizer to work out an agreement to resolve the trade dispute between the two economies. While American officials have said the European Union will increase imports of US crops, Malmstroem told reporters, "We have made that very clear that from our side we're not going to include agriculture, that has been made very clear from the beginning." However, she said, the EU more than doubled imports of American soy beans -- sales of which have plummeted due to a Chinese retaliation in its trade war with the United States. US President Donald Trump and European Commission President Jean-Claude Juncker agreed in July that neither side would impose any new tariffs on the other so long as talks continued. Washington has threatened to slap punishing tariffs on auto … [Read more...] about No agriculture in US-EU trade deal: official
Theresa May today staked her hopes of winning the big Brexit vote in the Commons on an 11th-hour promise from the European Union to agree a deadline for a future trade deal. A deadline of around 2021 is being mooted, which would ensure the unpopular Irish “backstop” plan lasted no longer than a year. No 10’s focus has changed, however, from fixing a date for the backstop to end, to setting a date for the future partnership which would make it redundant. But this was dismissed as impossible to meet by a former head of the Treasury. Lord Macpherson said in a tweet: “Time for some honesty about Brexit. "There is no way the UK will negotiate a trade deal with the EU by December 2020.” He said even 2022 was “very optimistic” and a deal would probably take until the middle of the next decade. Downing Street said Mrs May spoke over the Christmas break with Jean-Claude Juncker, Emmanuel Macron, Angela Merkel and Mark Rutte in a bid to get a … [Read more...] about May pins hopes of vote victory on promise of EU trade deal by 2021