Business, Freight News

UK teetering on trade ‘cliff edge’

[ March 7, 2018   //   Chris ]

The House of Commons International Trade Committee has warned that the Government needs to act quickly to roll over the trade deals it currently enjoys as a member of the EU trade, otherwise it “risks falling off a cliff edge”.

The Committee did however welcome the Government’s latest move to ask that the UK be treated during the post-Brexit transition as if it were still an EU member for the purposes of such agreements, which it says is “a tacit admission by the Government that its initial policy of negotiating new agreements by March 2019 may not be achieved”.

The Committee also urged the Government to allocate enough resources are allocated to the task of rolling over the agreements.

It said that theGovernment still needs to work out a number of important details before continuity can be achieved while business need certainty on what will happen.

Tags: Brexit, International Trade Committee