European Views | The United Kingdom (UK) was confident its economy would prosper even without an agreed trade deal with the European Union (EU). UK Prime Minister Boris Johnson was quoted as saying in a statement that the UK will not accept any proposals in the negotiations that undermine its status as a sovereign, independent country.
UK trade deals
BoAML | Turning to the long term outlook, we still expect that leaving the EU will worsen the UK’s trading terms with EU countries more than it improves trading terms with other countries. Assuming this thesis proves correct, it will come with economic costs. The recent better-than-expected data tell us nothing about that judgment, but political events suggest to us that it is on track.