THE EUROPEAN Union will try to “stop” the United Kingdom from striking new trade deals after Brexit because it would “undermine” their exports to Britain, economist Patrick Minford claimed.
Brexit talks are expected to move on to trade negotiations in 2018 after EU leaders agreed enough progress had been made on key divorce issues.
Bur Prof. Minford warned Brussels might try to thwart Britain’s attempts to strike new trade deals with non-EU countries.
He said: “They will try and stop us as much as possible from doing free trade agreements with the rest of the world because that would undermine their exports to us.
“But we don’t need to take any notice of that.”
Prof Minford said Brexit will ultimately help Britain get rid of the trading barriers the EU imposes on member states, resulting in lower prices for British goods.
Speaking to RT UK, he continued: “The key thing is that we have free trade with the rest of the world because that would bring down our prices and get rid of the trade barriers that the EU has put around us and prevented us from enjoying free trade with the rest of the world.
“We’re out of the single market so we can start to set up our own regulations gradually into line with UK interests. Of course, the EU can’t stop that.”
The pro-Brexit academic suggested Brussels could offer the UK a “Canada-type” trade deal – a “sensible” decision which would see up to 98 per cent of import tariffs lifted.
Prof Minford added: “Hopefully the EU will also sign a Canada type deal with us that gives us free trade with the EU.
“That would be very sensible from both points of view, both theirs and ours.”
Trade discussion between the two negotiating partners is due to begin at the start of the new year after phase one of the Brexit talks were concluded last week.
The conclusion of phase one means that an agreement on citizens rights, the divorce bill, and the Ireland border have all been reached.