U.K. signs trade deal with Canada to prepare for Brexit

Brexit talks on hold after EU negotiator tests positive for Covid-19 | ITV News

Described by the British government as a "stopgap", the deal announced Saturday rolls over existing trade agreements between the United Kingdom and Canada, and opens the door to negotiations in 2021 on a specific UK-Canada trade pact.

The deal with Canada locks in existing trading rules that cover 20 billion pounds ($27 billion) of trade between the two countries, or about 1.5% of the U.K.'s total trade in goods and services a year ago.

Johnson's government says this type of relationship wouldn't hamper trade, but opponents warn that tariffs would increase prices for British consumers and border checks would lead to shortages of some goods. It will cover about 1.5 percent of the U.K.'s total trade in goods and services.

Britain ships goods that include electric cars and sparkling wine to Canada, and imports products such as salmon and maple syrup from the Commonwealth country that also recognizes Queen Elizabeth II as head of state.

British Prime Minister Boris Johnson joined Canada's Justin Trudeau and their respective trade ministers on an online call to mark the deal, which paves the way for a tailor-made agreement covering more areas such as digital trade, small businesses, the environment and women's economic empowerment.

Johnson said in a statement the "fantastic agreement" ensured trade with one of Britain's closest allies would go "from strength to strength".

Canada Unveils Action Plan to Achieve Net-Zero Carbon Emissions by 2050
Wilkinson promises that the new plan will cut more emissions by 2030 than Canada promised in the Paris accord. CBC Canada is reporting the Liberals have promised to plant two billion trees.

The Department of International Trade said the deal "locked in" the two countries' existing £20 billion (RM106 billion) trading relationship and set the stage for further negotiations.

The U.K. still needs to roll over 14 other European Union agreements by January 1 to avoid defaulting to World Trade Organization terms, including with nations such as Mexico, Turkey and Singapore - agreements which cover about 60 billion pounds of trade with Britain.

No new trade deals can start until the transition period ends on 31 December. Failure to do so would see EU-UK trade conducted on World Trade Organisation terms. The value of Canadian spirits imported by the United Kingdom previous year was in excess of $3.3 million, representing greater than 85% of the value of all Canadian beverage alcohol imports into the U.K. The president was very receptive to the idea of such a deal, given his pro-Brexit stance.

Josh Hardie, the acting director-general of the Confederation of British Industry described the agreement as a "milestone", adding: "The signing of this deal can now lay the foundations for an even deeper trade agreement, tailored to both economies".

The agreement does not give any new benefits to businesses. "Any trade deal between the US and United Kingdom must be contingent upon respect for the Agreement and preventing the return of a hard border".

Related News:



Most liked

Disturbing new details in alleged plot to kidnap Michigan Gov. Gretchen Whitmer
The new order comes as MI reels from a troubling spike in coronavirus cases. Whitmer's spokesperson Tiffany Brown said on the resolution: 'Gov.

Latest Google Maps Updates Are Meant to Ease Holiday Stress
Google's transit predictions, which use aggregated and anonymized Location History data, have been available since a year ago . Moreover, an early see of the Google Assistant driving model in Maps is turning out to Android clients in the US.

Clippers Agree to Four-Year Deal with Marcus Morris
Rajon Rondo has not announced where he will be signing in free agency, but it looks like it won't be with the Los Angeles Lakers. He averaged 10.1 points and 4.1 rebounds in the regular season and 11.8 points and 4.8 rebounds in the playoffs.

Bharti Singh: Indian comedian arrested after cannabis found in raid
Neither Kapil Sharma nor any of Bharti's other co-stars such as Archana Puran Singh have reacted to her sensational arrest yet. The Mumbai Zonal Unit of the Narcotics Control Bureau raided the house of comedian actress Bharti Singh and her husband Harsh.

Arecibo Radio Telescope Can't Be Saved
Cables hold up a 900-ton equipment platform over the telescope's huge reflector dish, and those cables have begun to fail. An auxiliary cable broke in August and tore a 100-foot hole in the reflector dish and damaged the dome above it.

Apple to pay $113m to settle iPhone 'batterygate'
Users have taken their problems on Reddit and Apple Community thread where many users can be seen reporting the lighting trouble. Over $24 million dollars of which will go to the attorney's offices representing California and 5 districts within the state.

COVID-19 stricken mom gives birth to twins while in coma
Uke's calculated time was in mid-July, but the children were only born at 26 weeks of age in early April. Doctors put her into a coma to save her life and she wound up giving birth to twins while unconscious.

Guardiola ends speculation with two-year deal, Football News & Top Stories
Information from Reuters was used in this report . But when you want to stay, it's not so hard ". Pep Guardiola is staying at Manchester City .

Coronavirus: immunity for six months after contracting the virus
Immunity to Covid in people who have contracted the virus may last far longer than thought, draft research indicated today. "The youngest child had the strongest antibody response", said the study's immunologist and co-author, Melanie Neeland.

NBA Announces Structure and Format for 2020-21 Season
That tournament will include the teams with winning percentages that rank them between seventh and 10th in each conference. Meanwhile, the 9th seed will host the 10th seed (the "Nine-Ten Game") for the 9th seed in the playoffs for its conference.

China says Five Eyes, including NZ, should face reality on Hong Kong
He is a Fulbright recipient at the University of Maryland (U.S.) and a former assistant researcher at the Islamabad Policy Research Institute.

Tory Lanez Pleads Not Guilty to Megan Thee Stallion Shooting
For the record, Tory has denied offering anybody hush money through his lawyer. "Any reports to the contrary are false". Her supersonic video for " Body " - featuring cameos from Taraji P.

How many of his own coronavirus recommendations did Gavin Newsom violate?
Gavin Newsom at the elite "French Laundry" restaurant for a lobbyist's birthday party on November 6. California's guidelines including limiting gatherings to three households meeting privately.

Hill, not Winston, to start for Saints
A Pro Bowler in 2015, Winston has completed 2,559 passes for 19,812 yards and 121 touchdowns with 88 interceptions in his career. But coach Sean Payton is extremely high on Hill, comparing him to Hall of Fame quarterback Steve Young on multiple occasions .

The best moments in The Fresh Prince of Bel-Air reunion
Reputation". "So that meant my salary was cut". "Those words, calling a black woman "difficult" in Hollywood is the kiss of death. She explained that when she left the show, she wasn't fired, but claimed she was offered a " really bad deal".