Friday, October 26, 2018

As Was Foretold

Surprising nobody.

International Trade Secretary Liam Fox said his plan to quickly normalize the U.K.’s World Trade Organization commitments had failed, forcing the government to enter into what will likely be lengthy negotiations with other members on basic terms of trade after Brexit.

Essentially the rest of the world has some quota arrangements with the EU and the UK thought they would just divide out their allocation and proceed. Nobody else thought they could do that. Negotiations are hard, man.