Barnier said he expected the EU and UK to sign “a political declaration” on the future relationship. We would continue to have unfettered access to EU trade, but the pledge to “take back control” of laws, borders and money would not have been fulfilled. A comprehensive trade deal like the one handed to Canada would help British traders, as it would lower or eliminate tariffs. Britain leaves with no trade deal, meaning that all trade is governed by World Trade Organisation rules. EU leaders will meet on Friday without May to discuss the UK’s Brexit transition and future agreement.

Source: The Guardian December 12, 2017 11:34 UTC