Kommentar
Challenges of Negotiating a Free Trade Agreement Between the UK and the EU
Clemens Fuest
ifo Institute, Munich, 2020
EconPol Opinion 27
ifo Institute, Munich, 2020
EconPol Opinion 27
Now that Brexit is official and the negotiations begin in earnest, Europe is already facing its next challenge. The exit agreement stipulates that the UK will remain a member the customs union and the common market until the end of 2020. By that time, The EU and the UK must have concluded a free trade agreement. If not, customs duties and other trade restrictions would enter into force. However, reaching such an agreement takes time.