Countries are likely to offer the UK worse trade deals than it currently enjoys in the EU, the former head of Liam Fox's trade department told BI.
Britain's International Trade Secretary Liam Fox speaks during a signing of a trade continuity agreement with the Pacific Islands, as the government seeks a Brexit solution, in London, Britain March 14, 2019.Countries are likely to offer the United Kingdom worse trade deals than it currently enjoys as an EU member, the former head of Liam Fox's International Trade Department has told Business Insider.
Sir Martin Donnelly, who was the Permanent Secretary of the Department for International Trade until 2017, said that the UK could offer less market access as an individual country than as part the EU, and would therefore be offered less favourable terms when negotiating free trade arrangements after Brexit.
that the UK would roll over dozens of existing EU free trade arrangements"the second after" the UK left the EU, the scheduled date for which has been delayed by at least two weeks beyond March 29. "By negotiating as a country of 65 million, we start in a significantly less attractive position than when we are a part of a bloc of around 500 million," Donnelly told BI.He said the lack of clarity around the government's trade policy once it has left the EU would act as an impediment to striking liberal trade deals because foreign companies would demand certainty about the UK's trading arrangements on issues including rules of origin.
It adds that"unjustified trade restrictions," such as the ban on the sale of chlorinated chicken and hormone-injected beef in the UK, must be removed in order to"eliminate practices that unfairly decrease U.S. market access opportunities."
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