Britain looking at distinct trade deal with EU – Hammond
British finance minister Philip Hammond said on Saturday (December 16) it is likely Britain will want to negotiate a bespoke arrangement for a future trade deal with the European Union, rather than copying existing arrangements like the Canada-EU deal.
The European Union agreed on Friday (December 15) to move Brexit talks onto trade and a transition pact but some leaders cautioned that the final year of divorce negotiations before Britain’s exit could be fraught with peril.
Speaking in Beijing, Hammond said it was probably not helpful to think in terms of off-the-shelf models like the Canada-EU deal.
The Brexit negotiations have been a vexed issue for the global economy as markets feared prolonged uncertainty would hit global trade and growth.