The European Union and Britain clashed over a post-Brexit trade deal on Monday, with the two sides setting out very different visions of a future relationship that could result in the most distant of ties. “There is no need for a free trade agreement to involve accepting EU rules on competition policy, subsidies, social protection, the environment or anything similar, any more than the EU should be obliged to accept UK rules,” Johnson said. At the moment, much of EU-Australia trade runs along with basic World Trade Organization rules, though there are specific agreements for certain goods. Australia is in the process of negotiating a trade deal with the 27-nation EU. Brussels says it wants an ambitious zero-tariffs and zero-quotas trade deal, but has been clear this will be conditional on open and fair competition between the two, the EU’s Brexit negotiator said.

Source: Nigerian Tribune February 03, 2020 15:00 UTC