Logo
Tuesday, 07 July 2020
Logo
The News and Media Division of The Insight Partners
Thursday, 25 Jun 2020 08:00 pm

UK will not agree to EU right to use retaliatory tariffs, says negotiator

Britain will not agree to any European Union proposal which gives the bloc the right to respond with tariffs to changes in British law following Brexit, chief negotiator David Frost said on Thursday.

newsImage
 

Britain and the EU have intensified talks to find a trade deal that will replace the ties severed by Brexit, but with only a few months until a deal needs to be reached, the two sides remain far apart. A transition arrangement expires at the end of the year.

The next round of talks begins on Monday and will be held face to face for the first time since the coronavirus epidemic. Frost said they would be focused on whether “genuine and rapid progress” could be made.

“The government will not agree to ideas like the one currently circulating giving the EU a new right to retaliate with tariffs if we chose to make laws suiting our interests,” he tweeted.

“We could not leave ourselves open to such unforeseeable economic risk.”

Brussels has in recent days floated the possibility that existing regulations on state aid could be used as the benchmark for future common standards.

That idea has been interpreted by some as a signal that if Britain deviated from those standards, the EU could retaliate with tariffs, although an EU official dealing with Brexit dismissed the idea of such tariffs.

Read here

Tags British European Union Britain Brexit Coronavirus pandemic Tariff

Neha Pandey

Aware of her elements, Neha writes the best articles across industries including electronics & semiconductors, automotive & transportation and food & beverages. Being from the finance background she has the ability to understand the dynamics of every industry and analyze the news updates to form insightful articles. Neha is an energetic person interested in music, travel, and entertainment. Since past 5 years, she written extensively on sectors like technology, finance and healthcare.


Smarter Decisions with Smart News

Smart Market News is committed to getting its readers the latest updates and insights on industries that help in making “smarter” business decisions. With insights and inputs from corporate decision makers, we bring you the stories of adopting innovative solutions and strategies that have been changing the world. Our editorial insights on products, solutions, companies, and adoption of best practices not only help in understanding the markets better, but also prove to be a complete package for your information needs.

media@smartmarketnews.com | sales@smartmarketnews.com

Contact Us
Subscribe to our newsletter
Get the latest in your inbox weekly Sign up for the fully charged newsletter
Follow Us:
© The News and Media Division of The Insight Partners 2019 | All Rights Reserved | Privacy Policy