• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Foreign Affairs

Sudden shift in US leadership may influence the Brexit process

2nd November 2020 Matthew Patridge

Sudden shift in US leadership may influence the Brexit process Pin It

Brexit’s back. The British have now left the European Union, but the two sides are still arguing about their future relationship. We’re running out of time and the news is piling up fast, so we’ll catch you up on what happened this week.

This week, both forces continued to progress steadily in the debilitating negotiations. On Friday, EU chief negotiator Michel Barnier announced that a deal is currently being worked hard, but there is still a lot of work to be done.

After a week of intensive talks in London, the talks between Barnier and his British colleague David Frost continue in Brussels. Although steps have been taken in the right direction, several outcomes are still possible. And with two months to go, we’re running out of time.

It looks like there are three more scenarios possible. The first scenario is a deal-Brexit, where the EU internal market remains open to the British, and the UK market remains open to the member states. However, there will be much less cooperation in many areas such as regulation, security and defence.

The second scenario is the much discussed no-deal Brexit. In such a case, the UK would leave the EU without a trade agreement and trade would henceforth be conducted according to an ‘Australian model’. The EU does not currently have a free trade agreement with Australia, but there are small agreements on specific issues.

The third scenario is, according to the initiates, a partial deal. This option will certainly become relevant when time is running out and the power blocs want to reach an agreement at the last minute. The parties will then be able to make temporary agreements on points on which they agree, without these possibly being ratified by the EU.

This would, in practice, mean that there would still be a number of issues to be negotiated in 2021, In which case the new trade rules which the UK intends to apply will become important. Less stringent food safety requirements would make trade with the EU more difficult, while a trade agreement with the US could benefit.

The US presidential elections, which take place on Tuesday, May also be a determining factor in the ongoing Brexit negotiations. Prime minister Boris Johnson is very suspicious of the outcome of November 3. In September, presidential candidate Joe Biden stated that he was not a fan of Johnson’s Brexit law, which could undermine parts of the withdrawal agreement. Biden sees nothing in a hard border between Ireland and Northern Ireland and thinks that the British should simply stick to the agreements previously made with the EU.

This could potentially have a negative impact on a new trade agreement between the US and the UK. Many members of the British House of Lords, who will be considering Johnson’s Brexit law next month, may vote massively against the controversial clauses in the British Prime Minister’s proposal in the event of a Democratic victory.

However, if the current President Donald Trump wins the presidential election, Johnson would feel strengthened to go for a no deal Brexit. The American president is in favour of Brexit and would like to see a renewed trade agreement with London as soon as possible. The winner of the American presidential election may therefore be a harbinger of the Brexit scenario that will emerge at the end of this year.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

'Respublika' vs. Timur Kulibayev:…

In Foreign Affairs

'Respublika' vs. Timur Kulibayev: the story of demise of the last independent media in Kazakhstan

View Post

Next Post

High court authorizes Unilever to…

In Money Matters

High court authorizes Unilever to become whole-British

View Post

In IT, Innovation and Startups

Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day

View Post

In Domestic Affairs

EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it

View Post

In Domestic Affairs

Boris Johnson reignites Brexit row as Brussels goes offensive

View Post

Newsletter

Latest News

View

Boris Johnson reignites Brexit row as Brussels goes offensive

16th May 2022

View

Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day

13th May 2022

View

EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it

11th May 2022

View

G7 countries impose the new sanctions on Russia: ban on rare metals and oil trade

9th May 2022

In Domestic Affairs

Crisis at P&O Ferries could affect independent UK retailers

View Post

In Domestic Affairs

Authorities seize one of P&O Ferries ships

View Post

UK inflation

In Money Matters

BOE struggles to maintain momentum, stuck between inflation and debt purchases

View Post

In Money Matters

Lidl decides to rise wages to keep the army of employees (moderately) happy

View Post

Recent Posts

  • Boris Johnson reignites Brexit row as Brussels goes offensive
  • Guest workers beware: this autonomous robot can pick up to 25,000 raspberries a day
  • EU wants to capitalise on Northern Ireland elections, the UK is planning to counter it
  • G7 countries impose the new sanctions on Russia: ban on rare metals and oil trade
  • Oleg Bakhmatyuk is hiding in Austria while UkrLandFarming, VAB Bank go bankrupt

Recent Comments

  • Michael Bazevson on David and Josh Baazov: The Story of King of Poker and Master of Frauds
  • Rob Renton on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • Mick on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • MikeBreen on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it
  • linda on Ripple (XRP) Price Prediction 2022: bright product with some dark spots on it

Archives

  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017

Categories

  • Domestic Affairs
  • Foreign Affairs
  • IT, Innovation and Startups
  • Money Matters

Meta

  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com

Sign Up for Our Newsletter

Our friendly crew

  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019 Talk Finance - All Rights Reserved. [email protected]