Published: Sun, March 11, 2018
Health | By Jay Jacobs

U.S. approach to tariffs wrong, absurd if Britain affected - Liam Fox

U.S. approach to tariffs wrong, absurd if Britain affected - Liam Fox

The EU has consistently said since the June 2016 referendum that it's not looking to punish Britain for its vote and is working to get a deal on the future relationship that works for both sides but which is consistent with its rules. The UK will look to match European Union regulatory standards (and possibly adopt identical rules) to ensure that trade in most goods remains as free as possible.

Though conceding that tariffs would hurt businesses and consumers, Fox dismissed warnings that Britain was facing an "economic black hole" after Brexit. "This will unfortunately have negative economic consequences", they said, adding however that the European Union would be ready to "reconsider" its offer if Britain's positions were to "evolve".

A free trade deal is likely to lead to cross-border customs and environmental health standard border checks on EU-UK trade being introduced, which is predominately carried on roll-on roll-off ferry port routes.

Faced with the world's biggest financial centre being cut off from a core market after Brexit, British finance minister Philip Hammond said on Wednesday that finance should be at the heart of a new trade deal with Europe.

The hoping for an agreement at an European Union summit this month on the transition period, an arrangement that businesses are keen to pin down so they'll have time to prepare for the shift to new trading rules and regulations that Brexit will bring.

Banks have said transition would provide critical breathing space to adjust to Brexit and give more time for trade negotiations.

"Northern Ireland trade with Great Britain is worth almost 4 times more than Northern Ireland exports to the Republic".

Mr Tusk noted: "If in London someone assumes that the negotiations will deal with other issues first before moving to the Irish issue, my response would be - Ireland first".

Without offering substantive details, Arlene Foster, the leader of the Democratic Unionist Party, the Northern Ireland party that props up May's government, said she wants to "see an optimistic, sensible and pragmatic approach to Brexit" that avoids barriers going up.

The debate between the United Kingdom and European Union over access to the single market for Britain's banking sector in the future is becoming one of the main Brexit issues that must be resolved before Britain withdraws from the EU in March of 2019. That would effectively create a new border in the Irish Sea between the island of Ireland and Britain.

He told BBC Radio 4's Today programme: 'I find it not just disappointing but sickening that people should really be prepared to sacrifice peace in Northern Ireland on the altar of Brexit'.

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