Brexit trade deal threat risks destroying UK trade

Business leaders urge Boris Johnson to scrap his threat to trade with the EU without a deal

Some of Britain’s biggest business groups are urging Boris Johnson to abandon his policy of threatening to walk away from the European Union without a trade deal, warning that it would unleash economic chaos costing billions of pounds. Prime Minister Johnson this week said the United Kingdom would pursue a relationship with the EU “like Australia’s” if Brussels refused to agree to its demands by the end of 2020.

However, Australia does not have a free trade deal with the EU, and does relatively little trade with the bloc, compared to the UK. The trade Australia does do with Brussels is largely on World Trade Organisation terms. Figures from several key industries this week told that trading with the EU without a free trade agreement, as laid out by Johnson this week, would cause severe damage to businesses nationwide.

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