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UK must finally break relations with the EU until 2021
The most likely scenario is the UK’s return to trade with the EU under the rules of the World Trade Organization.
The UK is ready to continue negotiations with the European Union on the terms of the trade deal but is bracing for a difficult Brexit, British Prime Minister Boris Johnson said in an interview with Sky News on December 13.
Johnson noted that serious differences remain between the parties.
“We are always ready to negotiate and advance as far as possible … However, our positions remain very different on key issues that everyone knows,” the prime minister said.
He called the return of the UK to trade with the EU according to World Trade Organization rules as the most likely scenario.
The lack of a trade agreement between Britain and the EU will lead to serious difficulties in importing and exporting goods, including due to new tariffs. This could practically stop the export of some British products, such as lamb, according to the Financial Times.
On the eve it emerged that the British and the Europeans could not come close to an agreement on how their relationship would be built after Brexit. Bloomberg reported that the situation remains dire. Sky News writes that so far Britain has not accepted the proposals made by the European Union.
In this context, the UK Council of Ministers recommended that stores stock food in case a trade deal is never reached, writes RBC.
Producers have warned of a possible shortage of vegetables in the next three months, the newspaper writes. Emergency planners admit that leaving the EU without an agreement will create a flood of purchases that will exceed that seen in the first months of the pandemic.
Authorities have also advised providers of drugs, medical equipment and vaccines to stock up on supplies that will last six weeks.
The head of British retailer Tesco, John Allan, has warned that in the event of Brexit without a deal, food prices could rise by five percent and the shortage of fresh food could last two months, FT writes.
The union’s departure from the country is scheduled for January 1, 2021. Formally, this happened on February 1, however, the parties agreed to a transition period, during which the final terms of the agreement would be resolved.
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