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Tag: trade

Brexit: Emmanuel Macron ‘not sure’ of UK-EU trade deal by end of year

Brexit: Emmanuel Macron ‘not sure’ of UK-EU trade deal by end of year

Business
French President Emmanuel Macron has said he is "not sure" a UK-EU trade deal will be struck by 31 December, the end of the Brexit transition period.Mr Macron said negotiations starting in March will be "tense", with fishing rights a key point of contention.It comes as the UK government signalled it would publish its mandate for the trade deal later this week.In the document, ministers are expected to reiterate their desire for a Canada-style deal with few tariffs on goods.While a trade deal is hammered out with the EU, the UK is following the majority of the bloc's rules.The UK is in this transition period until 31 December following its departure from the EU on 31 January."I am not sure that an agreement will be reached between...
UK’s Huawei decision could hurt possible Brexit trade deal, warns Pence

UK’s Huawei decision could hurt possible Brexit trade deal, warns Pence

Business
Boris Johnson's decision to allow Chinese tech giant Huawei a role in Britain's 5G network could threaten a post-Brexit trade deal between the UK and America, according to US vice president Mike Pence.His comments came after it was reported that US President Donald Trump blasted Mr Johnson with "apoplectic" rage during a phone call regarding the 5G move. Speaking to the US broadcaster CNBC, Mr Pence said: "We are profoundly disappointed because look, when I went at the president's direction in September I met with Prime Minister Johnson and I told him the moment the UK is out of Brexit we were willing to begin to negotiate a free trade arrangement with the UK."But we just don't believe that utilising the assets, the technology of Huawei is consistent with the security or privacy interests ...
Economic impact of virus widens as Ericsson exits trade show

Economic impact of virus widens as Ericsson exits trade show

Technology
More than a month after the outbreak of China's deadly virus, the economic damage is being felt by more businesses and is threatening the outlook for the global economyBy The Associated PressFebruary 7, 2020, 7:32 PM3 min readBEIJING -- More than a month after the outbreak of China's deadly virus, the economic damage is being felt by more businesses and is threatening the outlook for the global economy. In a report Friday, the Federal Reserve warned that the virus represents an international risk. “The recent emergence of the coronavirus," the Fed said in a semiannual report on monetary policy, "could lead to disruptions in China that spill over to the rest of the global economy.” Economists note that the longer the outbreak and the lockdown of Wuhan and other Chinese cities last, the wo
UK to ‘drive hard bargain’ as it seeks far-reaching US trade deal

UK to ‘drive hard bargain’ as it seeks far-reaching US trade deal

Business
The UK will "drive a hard bargain" as it seeks trade deals with the US and other countries that benefit consumers and businesses while maintaining standards, International Trade Secretary Liz Truss has said.Ms Truss set out the government's broad negotiating aims for talks with the US, Japan, Australia and New Zealand in coming months over post-Brexit deals. It has launched a consultation on plans which will see tariff rates simplified or cut, and a review on "anti-dumping" duties designed to prevent countries such as China flooding the market. Image: International trade secretary Liz Truss said Britain will move away from the 'complex tariff schedule' imposed by the EU Ms Truss said the UK wanted a deal with the US to "secure compreh...
UK and EU clash over trade deal demands – as PM refuses to say the word ‘Brexit’

UK and EU clash over trade deal demands – as PM refuses to say the word ‘Brexit’

Business
By Aubrey Allegretti, political reporter Britain won't lead a "cut-throat race to the bottom" on standards after Brexit, Boris Johnson has promised in his opening gambit for trade talks with the EU. The prime minister tried to head off Brussels' demands by claiming he is not about to "undermine" current labour laws or food and environmental protections. He hailed free trade as "God's diplomacy" and "the only certain way of uniting people in the bonds of peace" at a speech revealing he will push for a Canada-style deal in talks over the next 11 months. Image: Negotiators only have 11 months to strike a deal But Brussels has insisted the UK needs to commit to the same level of standa...