LONDON/BRUSSELS : Britain and the European Union are seeking a post- Brexit trade deal , with failure likely to result in increased chaos in mutual trade, financial markets tumbling and huge economic costs. SterlingInvestors and banks have long predicted a trade deal would be done, so a no-deal would hit the British pound, foreign exchange traders say. TradeIn the case of a "no deal" on trade , Britain would lose zero-tariff and zero-quota access to the European single market of 450 million consumers overnight. But without a trade deal, the divide between Britain and Northern Ireland would become more distinct. City of LondonThe world's international financial capital is largely ready for Brexit as a trade deal was never going to cover Britain's most globally competitive industry.

Source: Mint December 07, 2020 13:52 UTC