LONDON (BLOOMBERG) - Prime Minister Boris Johnson on Saturday (June 27) reiterated that Britain was ready to walk away without a trade deal with the European Union if no agreement could be reached.. Read more at straitstimes.com.
LONDON - Prime Minister Boris Johnson on Saturday reiterated that Britain was ready to walk away without a trade deal with the European Union if no agreement could be reached.
Without a trade accord, Britain and the EU would default to trading on World Trade Organisation terms from Jan 1, 2021, meaning steep tariffs and an economic shock. On Saturday, German Chancellor Angela Merkel warned that Britain would have to live with the consequences of failing to reach a deal, including"a less intertwined economy," according to an interview with Sueddeutsche Zeitung.A key sticking point in the talks has been the EU's demand that Britain commits to tracking the bloc's rules in areas such as environmental and labour protections and state aid, for fear that Britain could become a competitor on its doorstep.
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