Saturday, May 18

Day: November 11, 2020

UK firms face £80bn hit due to failure to roll over EU deals
Featured, United Kingdom

UK firms face £80bn hit due to failure to roll over EU deals

    British businesses are facing disruption to as much as £80bn of global trade because of Boris Johnson’s failure to roll over 15 EU trade deals with other countries in time. While the UK’s talks with over a deal Brussels garner most of the attention, the government also has just 50 days left to sign free-trade agreements with countries such as Mexico, Singapore and Canada to replace the ones it will otherwise lose access to on 31 December. Adding to the atmosphere of crisis, the shadow international trade secretary, Emily Thornberry wrote to trade secretary Liz Truss on Tuesday to point out that unless these deals are concluded and published by 11 November, there will be insufficient Parliamentary time under the law for MPs to ratify them. An analysis by The Indepen...