By Robert Sharp [CC BY 2.0] via Wikimedia Commons
The man who is in charge of the departure of Britain from the European Union says that the chances that the country will leave the 28-nation bloc with a no-trade deal have already “dropped dramatically” after both sides reached a preliminary agreement regarding the divorce terms.
On Sunday, David Davis informed the BBC that the deal that was hammered out by British Prime Minister Theresa May last week implies that Brexit talks can now continue onto the next phase, giving Britain ample time to negotiate a free-trade agreement before it withdraws from the European Union in March 2019. He states that makes it highly unlikely that Britain will have to fall back on World Trade Organization (WTO) rules that would require tariffs on trade.
Davis said: “The odds, as it were, against a WTO, or no-deal outcome, have dropped dramatically.”