The UK is already discussing informal trade deals with at least 12 countries, despite being notionally prevented from striking deals while still a member of the EU, according to Liam Fox’s international trade department. In his piece for the Telegraph, Fox said “dozens of countries” were preparing to expand their trading links to the UK. The Telegraph named New Zealand and the Gulf Co-operation Council as two potential new trade alliances being informally investigated. Malloch told the Guardian he did not think the formal prohibition on a trade deal being sealed until the end of the two-year article 50 process would make a difference to that. “Since joining the EU, trade as a percentage of GDP has stagnated in the UK.

Source: The Guardian January 19, 2017 08:37 UTC