Reportedly, Michael Gove, the Secretary of State for Justice and Chancellor of the Duchy of Lancaster, has urged local businesses to be ready to face the brutal split from the EU, namely without a bilateral free trade agreement. Therefore, the country's free trade arrangement with the European Union from January 2021 would be "like Australia's," the UK government said.
"Australia's agreements with the EU relate to specific issues — such as nuclear cooperation, or passenger name records — which are relatively uncontroversial and technical. The question is whether we have an FTA [Free Trade Agreement] with the EU or, like Australia, rely on a relationship based on a few key agreements," the UK spokesperson said. So far, the trade cooperation between the United Kingdom and the EU is likely to be similar to Britain's trade relations with Australia. In other words, it will be built on the basis of general WTO rules. Notably, there is very little time left to conclude a trade agreement. Market participants cast doubt on the fact that the parties will be able to make a deal on the future relationship and tariffs before the UK leaves the single market at the end of the year. On January 1, 2021, the Brexit transition period will end and the former partners will have to slump each other with tariffs. The main goal of the government's campaign, announced by Michael Gove, is to prepare British businessmen for a new regime of trade and economic relations with the European Union.
Earlier, UK lawmakers were unwilling to make concessions."From our point of view, the trade negotiations are finished. The EU has de facto put an end to them and it will only be worth talking to each other if there is a fundamental change in the EU's position," a spokesman for prime minister Boris Johnson said.
