BREXIT PLANNING
DIVERSITY
Besides, while International Trade Secretary Liam Fox recently
expressed confidence over the prospects of negotiating a deal with the US - though he could not say when - he also effectively ruled out any agreement with China while it was involved in the current trade war with Washington. While China expresses a willingness to open formal trade
talks with the UK, Zhang Ming, the nation’s envoy to the EU, has specifically ruled out the possibility of an agreement if Britain leaves the bloc under a no deal scenario, which some Brexiteers are now pushing for. And even the Australian situation is complicated by the fact it is currently in the throes of negotiating a trade deal with the EU, which the UK will no longer be part of after March next year.
Prolonged uncertainty Quite apart from the complexities of negotiating any new free
trade agreement (FTA), Brexit is inevitably casting the longest of shadows. As Marjorie Chorlins, vice-president for European affairs at the US Chamber of Commerce, says, “The question about whether we can still do a deal hinges entirely on what the UK and EU end up doing. Until we know what the UK-EU future relationship looks like, we really can’t say what a US-UK relationship will look like.” While President Donald Trump enthused over a “big and exciting”
trade deal with the UK, sceptics point to the years of fruitless negotiations between Brussels and Washington over the Transatlantic Trade and Investment Partnership (TTIP), which was scuppered
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...the devil is in the detail...and, as yet, there simply are no details.
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