Britain and the European Union kick off talks on Monday on how their relationshi...
BRUSSELS - Britain and the European Union kick off talks on Monday on how their relationship will shape up after Brexit, with half a trillion euros worth of annual trade and close security ties at stake in what are bound to be tense talks.
The current status-quo transition period that followed Britain’s exit from the bloc on Jan. 31 expires at the end of year. The EU wants give Britain beneficial access to its single market of 450 million people in exchange for solid guarantees that London would prevent dumping. Senior British minister Michael Gove set an uncompromising tone for London’s position in a an editorial on Sunday, the eve of the new talks.
Without one, trade volumes could shrink dramatically if the sides default to World Trade Organization terms, which include tariffs and quotas.
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