Brexit – UK PM Johnson prepared to quit trade talks with the EU

Details a speech Boris Johnson is giving to business on Monday are out, the main headline grabber being he is prepared to walk away if doesn’t get what he wants.

Will be BJ’s first speech since the UK formally left the EU on Friday

  • Johnson wants a comprehensive trade deal at least as good as Canada’s 
  • will be ready to take a looser arrangement like Australia’s if talks fail
  • If the UK and Eu cannot reach a trade deal  he two would do business on World Trade Organization terms in most areas

The EU will publish their own mandate Monday also.

This is very early stages so while the headlines are good for market swings (GBP is a little lower already around 1.3175) don’t take too much of this to heart yet.