UK/Canada Trade Talks Commence

The UK and Canada have started discussions on a future trade deal between the tow countries with the aim of securing their £19.7bn trade relationship.

Trade Secretary Liz Truss Tweeted on Monday morning:

With the end of the Brexit transition period, the UK will no longer be covered by the EU/Canada trade agreement. It is therefore important to the UK to ensure that alternative, bi-lateral trade arrangements are in place before 1st January 2021.

If the UK does not agree arrangements with Canada, existing trade agreements would no longer apply from 1 January 2021. This would mean the UK would not have preferential trade arrangements for exports to Canada.

These talks are being presented as something new by some commentators, however, their main goal is simply to ensure trade continues between the two countries continues with minimal disruption.

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