Archive for the ‘Trade policy’ Category

Brexit: Barnier hints in talks of EU concessions on state aid rules

Downing Street welcomes lastest move after week of stuttering trade negotiations

Michel Barnier has signalled that he is ready to drop the EU’s most contentious demand that its rules limiting government subsidies to businesses are inserted into British law after another week of stuttering negotiations over a future trade and security deal.

In a move immediately welcomed in Downing Street, the bloc’s chief negotiator declined to publicly back the EU’s opening demand that the UK incorporate Brussels’ state aid rules into its domestic legislation.

Continue reading...

Business leaders demand delay to Irish Sea border checks

Six months needed to prepare for Brexit border checks, warn Northern Ireland business groups

Northern Ireland business groups are calling for a six month delay to Brexit checks in the Irish Sea saying that Boris Johnson’s late admission that he is legally obliged to implement them has left them no time to prepare for the December cliff edge.

They have also hit out at Downing Street secrecy, saying they are refusing to discuss the plans with the very people that needed to implement them.

Continue reading...

Single market holds key to unlocking Brexit impasse | Larry Elliott

The economic devastation caused by Covid-19 ought to be motivation enough for a deal

Nissan says its car plant in Sunderland will be at risk if it has to pay tariffs on vehicles exported from the UK to the EU. The governor of the Bank of England, Andrew Bailey, has told banks they need to prepare for the possibility that there will be no deal. It is something of an understatement to say that the talks between London and Brussels are not going well.

Whether things are as bad as they look remains to be seen. Threadneedle Street has repeatedly told banks they should prepare for all outcomes, including no deal. It would be a bit rum – and a much bigger story – if Bailey’s message was “don’t worry, everything’s going to be all right”.

Continue reading...

Petition calls for ban on low-quality food imports in post-Brexit deals

Hundreds of thousands back farmers’ demands for law to protect food standards

More than 250,000 people have signed a petition calling for a ban on cheaply produced low-quality food imports in post-Brexit trade deals.

The National Farmers Union (NFU) is lobbying the government to ensure that imports from countries such as the US of food produced to lower standards than expected of UK farmers should not be allowed.

Continue reading...

Bank of England urges lenders to bolster no-deal Brexit plans

Governor tells banks to prepare for risk of UK failing to reach a deal by 2020 deadline

The Bank of England governor has told banks to bolster their preparations for a no-deal Brexit.

Andrew Bailey held a conference call on Tuesday with Britain’s biggest lenders in which he emphasised that they needed to step up their plans for Britain failing to secure a post-Brexit trade deal with the EU before a deadline at the end of 2020, Sky News reported.

Continue reading...

EU has no legal duty to give UK trade privileges, document says

Paper concludes EU does not have to offer privileges given to others in previous deals

The EU has no legal duty to grant the UK privileges offered to other countries in trade deals, an internal European parliament paper has concluded ahead of a crucial round of Brexit talks this week.

The document, drawn up by officials for the parliament’s UK coordination group, is a short analysis of arguments made by the UK’s chief negotiator, David Frost, in a letter to his counterpart, Michel Barnier. Frost accused the EU of treating the UK as an “unworthy” negotiating partner by denying the UK “the kind of well-precedented arrangements commonplace in modern FTAs [free trade agreements]”.

Continue reading...

Key election battlegrounds face double hit from Brexit and coronavirus

The economies of the north-west and Midlands are vulnerable to fallout caused by Covid-19 and failure to secure a trade deal

Key English election battlegrounds in the north-west and Midlands will be severely exposed to a double economic hit from Brexit and coronavirus should the UK fail to secure an EU trade deal by the end of the year, new analysis has warned.

Boris Johnson has continued to rule out any extension to Britain’s EU transition deal, which expires from January. It comes despite a deadlock in talks about a future trade deal, before the final round of talks this week.

Continue reading...
Powered by WordPress | Designed by: index backlink | Thanks to insanity workout, car insurance and cyber security