Britain and Canada struck a rollover trade deal to protect the flow of 27 billion dollar-worth of goods and services between them after Brexit.
- Both countries roll over the terms of an existing agreement between the EU and Canada when the Brexit transition period ends on January 1, 2021.
- British Prime Minister Boris Johnson joined Canada’s Justin Trudeau on an online call to mark the trade deal.
- The deal paves the way for a tailor-made agreement covering more areas such as digital trade, small businesses, the environment and women’s economic empowerment.
- If deals with them are not in place by January 1, 2021 trading conditions would revert to basic World Trade Organization (WTO) terms, with higher tariffs on UK imports and exports.
(Source: AIR and FT)
