The European Union is less prepared for a no-deal Brexit than Britain, potential...
LONDON - The European Union is less prepared for a no-deal Brexit than Britain, potentially leaving British firms at a disadvantage if there is no transition agreement and weakening London’s hand in future trade talks, a British employers group said.
“The combination of the EU and UK’s different approaches creates an imbalance, where EU goods and services exports will have easier access to the UK than UK goods and services exports will to the EU,” the CBI said in a report. The EU should also say it will recognize Britain’s trusted trader scheme, something it already does with Canada, the United States and Japan to minimize red tape, the CBI said.
Brussels has said the deal it agreed last year with former prime minister Theresa May is its best and only offer.
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