UK Treasury Secretary: No Brexit Trade Pact at Any Price

Europe – The British Treasury Secretary Rishi Sunak does not believe in a Brexit trade pact “at any price”. “We are making progress in the talks and I remain hopeful that we will find a solution,” he said in a BBC interview on Sunday. Such an agreement would certainly make a lot of things easier in the short term. However, the Corona crisis is likely to have the greatest impact on the British economy in the coming year.

The desired free trade agreement should come into force on January 1st. Then the transition phase ends after the UK leaves the EU. Without a contract, there is a risk of a hard economic break with tariffs and other trade barriers. Because an agreement still has to be ratified, there are only a few days left for an agreement. Both sides also negotiated by mail over the weekend.

The negotiations were sluggish for months. On Friday, however, EU Commission President Ursula von der Leyen announced: “After difficult weeks with very, very slow progress, we are now seeing more progress, more movement on important points.” But she admitted that it was “several meters to the finish line”.

Meanwhile, the UK and Canada signed a preliminary trade deal on Saturday. In this way, both states want to continue to secure their economic relations. This will pave the way for negotiations from 2021 onwards for “a new, more ambitious agreement,” said Trade Minister Liz Truss in London. The trade in cars, beef, salmon and gin could continue unhindered, Truss said in the short message service Twitter.

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