UK warns of 'bumpy' post-Brexit transition despite deal
European Union ambassadors convened on Christmas Day to start an assessment of the massive free-trade deal the EU struck with Britain. (Olivier Hoslet, Pool via AP)LONDON – First came the Brexit trade deal. Four days after sealing a free trade agreement with the European Union, the British government warned businesses Monday to get ready for disruptions and “bumpy moments” when the new rules take effect on Thursday night. Despite the deal, uncertainty hangs over huge chunks of the relationship between Britain and the EU. ___Follow all AP stories on the Brexit trade talks at h ttps://apnews.com/Brexit
EU-UK trade talks slog on past another Brexit deadline
“Not that we don't want a deal," Johnson hastened to add during an afternoon news conference. “There are other options which now have to be looked at, including, on the one hand, the possibility of extending the (Brexit) transition period," McAllister said. France is leading the EU offensive to keep as many EU vessels in U.K. waters for as long as possible. The talks have bogged down on two main issues over the past days — the EU’s access to U.K. fishing waters and assurances of fair competition between businesses. ___Follow all AP stories on the Brexit trade talks at https://apnews.com/Brexit___
As EU talks stall, UK outlines tariffs for post-Brexit world
The Department for International Trade said the new regime will see tariffs eliminated on 62 billion pounds ($76 billion) of imports. Global Tariff, it will apply to all countries that the U.K. does not have a trade agreement with. Under the new tariff plan, the U.K. will see 60% of trade come in tariff-free, compared with 47% currently. While welcoming aspects of the new plan, business lobby groups are worried about how the trade talks with the EU are going. The EU accounts for around half of all U.K. trade, so it is consequentially more important for the British economy.