EU: "​Time to make a Brexit choice."

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EU: "​Time to make a Brexit choice."

7 February 2018

The European Union’s chief Brexit negotiator Michael Barnier told Britain on Monday that the time has come to make a decision on what sort of Brexit they want. Whereas Britain ruled out staying in any customs union with the EU after the Brexit, but this decision has created a split between May’s government and the Conservative Party.

Without a customs union and outside the single market, barriers to trade and goods are unavoidable. Barnier also said: “We need clarity on the UK proposals for the future partnership.”

With little more than a year left before Britain’s March 2019 exit from the European Union, May’s party remains deeply divided over what sort of relationship should be built between the EU and the world’s sixth-largest economy.

When Britain leaves the EU without a trade agreement, the exports of the UK will run into the European Union’s external tariffs. The tariffs are around 5% across all goods, 10% on cars and over 200% on some types of poultry

But May is under pressure from eurosceptic members in her party to quit the trading arrangement because for them the key prize is chance to sign new trade deals with other nations such as the United States, China and India. There will be two cabinet meetings at which she will try to fix the problems between the deep divisions amongst her ministers.

Source:
Faulconbridge, G. & MacAskill, A. (February 5th, 2018) EU's chief negotiator tells Britain - Time has come to make a Brexit choice. Reuters.
https://www.reuters.com/article/uk-britain-eu-trade/eus-chief-negotiator-tells-britain-time-has-come-to-make-a-brexit-choice-idUSKBN1FP0SJ