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Trade deal with Brexit becomes more difficult after virus hits employees on both sides

The Brexit trade deal will face greater challenges as British Prime Minister Boris Johnson is now under intensive treatment for a coronavirus while other negotiators are either infected or quarantined.

The UK’s departure marked the beginning of a “transition period” in which the UK remained a member of the EU’s single market and began negotiations with the EU on a free trade deal. During the transitional period, the UK will not have the right to vote on EU matters, but will still be bound by EU rules.

If a trade deal is not reached by the end of 2020, the UK will leave the single market without a deal and will have to revert to WTO rules.

The pound dropped to just 1.221 from $ 1.230 against the news that Johnson had been admitted to intensive care.

The expectation is, after all, that the UK has a “strong” political institution and that can keep the pound stable without change.


 Trader Georgi Bozhidarov


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