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EU Divided Over UK  Trade Ties
World Economy

EU Divided Over UK Trade Ties

British Finance Minister Philip Hammond said on Monday there were differences among European Union member countries about the stance to take over Britain’s future trading relationship with the bloc, Reuters reported. “Let’s be clear not all 27 of the remaining European Union countries have the same view about how to go forward,” Hammond said in an interview with BBC radio. “There are many countries saying to us privately that they want very strong continued trade links with Britain.” British Prime Minister Theresa May faces the challenge of keeping as much access as possible for its exporters to the EU’s single market while also heeding the message from voters in June’s referendum to take more control over immigration, something that threatens to fall foul of the EU’s key freedom of movement principle. Chances are high that a favorable trade agreement will be reached between the United Kingdom and the EU after Brexit, as there are advantages for both sides in continuing a close commercial arrangement, recent reports say.

 

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