The Financial Times reports that “Boris Johnson has warned he is ready to walk away from trade talks with the EU and sacrifice the interests of British business if Brussels insists on a deal that compromises the UK’s ability to set its own rules.“
In effect, Prime Minister Johnson has fired “a warning shot [at] the EU27 countries as they finalised their objectives for negotiations with Britain … [and] … Downing Street on Monday said Mr Johnson’s red line was the notion of “taking back control”.” The warning shot is also applicable to America, Australia, Brazil, Canada and anyone else interested in securing a free(er) trade deal with Britain, I think.
The article goes on to say that “A spokesperson for the prime minister said: “The UK’s primary objective in the negotiations is to ensure we restore our economic and political independence on January 1 2021.” Mr Johnson and senior ministers will sign off the UK’s negotiating stance on Tuesday. Although the UK’s Brexit negotiating position has hardened since Britain formally left the bloc at the end of January, it is the first time Number 10 has explicitly said the UK is prioritising sovereignty issues over the demands of British businesses.“
That’s good news for Canada. It should mean that Britain will be open to trade deals that might be less restrictive than the one (the CETA) that we have with the EU. I hope that Canada’s trade minister, Mary Ng, is, already, negotiating with her UK counterpart. Britain is a “top ten” global economy, the break with the EU might leave some holes which Canada can fill.