UK-EU Trade Post Brexit

Major business leaders in Europe are likely to meet the British PM, Theresa May today, in order to voice any concerns they have over the future of the UK-EU trade.

The meeting is likely to consist of experts from groups including the CBI, and Business Europe, and will stress on the importance of a transitional deal that can preserve the status quo post-Brexit. The group has urged the government to clarify the future relationship of the UK with the European Union.

The group will meet the Prime Minster at No. 10 today. Others in attendance will include prominent British ministers such as Business Secretary Greg Clark, Brexit Secretary David Davis, and the Economic Secretary to the Treasury Stephen Barclay.

A number of well-known organizations are expected to send their representatives. This will include representatives from the CBI, and the Institute of Directors. Not to mention, representatives from business organizations from across Europe, including, France, Germany, Spain, Italy, Ireland, Poland, the Netherlands, Belgium, and the Czech Republic.

Commenting on the meeting, CBI Director General, Carolyn Fairbairn, stated that the meeting was extremely important and that “the urgency” had spread to all businesses across Europe. She added that according to a survey conducted by the CBI, nearly 10% of the firms had “already pressed the button on their contingency plans”, in the event that the discussions resulted in a no-deal Brexit.

The European Union’s chief negotiator took a sterner stand, warning that the talks were unlikely to continue unless the UK clarified its financial obligations to the EU.

The next round of Brexit talks is likely to begin in mid-December.