FILE PHOTO: Canary Wharf and the City of London financial district are seen from an aerial view in London, Britain, August 8, 2019. REUTERS/Hannah McKay/File Photo
LONDON - The European Union had flagged to Britain well in advance that any free trade deal must come with a commitment from London to uphold fair competition, a senior adviser to the bloc said on Wednesday. Stefaan de Rynck, an adviser to EU’s chief trade negotiator Michel Barnier, also said the trade talks would be tougher than the negotiations that secured Britain’s divorce settlement because of their broader scope and time limit.
Britain left the EU last month with an 11-month business-as-usual transition period, and will need new trading terms from January 2021 to avoid potential disruption to trade.
It's a non statement really. We know we need fair competition but what does that constitute? Agreeing standards in areas where we wish to align or following all regulations passed by a foreign power in order to trade with a bloc that is shrinking relative to world GDP?
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