ASSESSMENTS
The Scramble to Secure EU-U.K. Trade Ties Amid COVID-19
Apr 29, 2020 | 10:00 GMT
(TOLGA AKMEN/AFP via Getty Images)
Highlights
- The COVID-19 pandemic has severely delayed free trade agreement negotiations between the European Union and the United Kingdom.
- This, combined with logistical and political obstacles, has made it unlikely that the two sides will reach a comprehensive trade deal before Britain's scheduled departure from the EU single market on Jan. 1.
- London and Brussels, however, will still seek to avoid a "no-deal" U.K. exit from the single market, which would worsen the economic fallout from COVID-19.
- This will increase the likelihood of a limited trade deal covering goods and a few services by the end of the year, or an extension of the United Kingdom's membership in the single market into 2021.
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