It Will Be Difficult for UK to Reach A Trade Deal With the EU by the End of the Year
It seems like it will be difficult, if not impossible for an EU-UK trade deal by the end of 2020
Skerdian Meta•Thursday, February 27, 2020•1 min read
The main hopes for the UK after pushing ahead with Brexit, is to reach a trade deal with the EU by the end of the year. But, the EU refused a quick template for a trade deal with the UK, such as Japan, Norway or Canada style deals yesterday, as I highlighted earlier today.
Now, UK officials are playing tough, saying that they can go on without a deal. This seems similar to the Brexit negotiation, so deja vu much anyone? Today, the UK affirmed that it is willing to trade on no-deal basis if talks with EU fails. The UK published its negotiating mandate for trade talks with the EU:
UK’s negotiating mandate with the EU
- Trade deal should be based on Canada, Japan-style deals
- UK will not extend Brexit transition period with the EU
- To decide by June if a deal is possible before December deadline
- To start no-deal preparations if an accord is not clear by June
- Wants broad outline of trade deal to be clear by June
- Will not sign up to alignment on EU rules, regulations
UK Cabinet minister, Michael Gove, comments
- There is ample time to strike a deal with the EU
- We want the best possible trading ties with the EU
EU’s Barnier Commenting on UK-EU deal
- We take note of the UK’s negotiating mandate published today
- Will discuss respective positions on Monday
- Will stick with prior commitments in political declaration
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
ABOUT THE AUTHOR
See More
Skerdian Meta
Lead Analyst
Skerdian Meta Lead Analyst.
Skerdian is a professional Forex trader and a market analyst. He has been actively engaged in market analysis for the past 11 years. Before becoming our head analyst, Skerdian served as a trader and market analyst in Saxo Bank's local branch, Aksioner. Skerdian specialized in experimenting with developing models and hands-on trading. Skerdian has a masters degree in finance and investment.
Related Articles
Comments
Subscribe
Login
Please login to comment
0 Comments
Oldest
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals