Prime Minister Boris Johnson’s government has been quick to send Brussels a message before trade talks begin in March: Brexit, for him, means sovereignty trumps the economy. His aim is a trade deal allowing for tariff — and quota-free trade in goods, similar to the terms the bloc now has in place with Canada. “There are only two likely outcomes in negotiation — a free trade deal like Canada or a looser arrangement like Australia — and we are happy to pursue both,” the source said. The EU says it will not seal a trade deal with a large, economically powerful neighbour without solid provisions to guarantee fair competition. Some European leaders fear Johnson could try to undercut EU businesses by loosening regulatory standards, something he has promised not to do.

Source: National Post February 02, 2020 21:45 UTC