COM has chosen English as your language setting. Business Are petro states doomed to economic catastrophe? News EU warns of post-Brexit trade ‘frictions,’ rejects UK ambitions for unique trade deal EU-UK ties won’t be “frictionless,” but there’s no need for eu and brexit wall between neighbors, EU Council President Tusk has said.
Still, his guidelines have poured cold water on British calls for a post-Brexit free trade deal. If Britain follows its own red lines in its departure from the European Union they will damage future UK-EU trade and “limit the depth” of any future economic partnership, the EU warned on Wednesday. The warning comes days after May called for the “broadest and deepest possible agreement” to protect existing trade relations after Brexit occurs in March 2019. In a document presented by Tusk, the EU said a post-Brexit trade deal would not make up for the British decision to leave the EU customs union and single market: “Being outside the customs union and the single market will inevitably lead to frictions . This, it added, “will have negative economic consequences. Britain cannot “cherry-pick” getting free access to certain EU benefits without having to pay the costs of being a fully fledged member of the bloc.