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U.K. Headed for a Hard Brexit from the EU

U.K. Prime Minister Boris Johnson expressed this week that the prospect of a no-deal Brexit is very likely.

This week, last-minute negotiations continue in the U.K. as the prospect of a no-deal Brexit is, according to Prime Minister Boris Johnson, “very, very likely.” Negotiators have given themselves until Sunday, 13 December, as final deadline to reach a deal.

In January 2020, the United Kingdom officially exited from the European Union, signing a Withdrawal Agreement that entered the country into a transition phase. The U.K. is scheduled to definitively leave the EU at the end of 2020. The EU’s 27 government chiefs are holding a summit in Brussels this week, with talks running into the evening on Thursday with little to no progress. Negotiators have given themselves until Sunday, 13 December, as final deadline to reach a deal.

European Commission President Ursula von der Leyen, who met with PM Johnson on Wednesday, expressed that a “no deal” Brexit was likely. Johnson followed on Thursday afternoon, expressing that while he plans to continue pushing for a deal on future trade and security with the EU, a hard Brexit was the likelier outcome. As leaders in the Brexit negotiations expressed their dim outlook, the pound fell nearly 1.2%.

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How This Impacts Mobility

A hard Brexit would negatively impact businesses in the U.K. and damage the economies of Europe and their supply chains. This would trickle down to businesses relocating to the U.K., who may already be struggling due to the COVID-19 crisis. Worldwide ERC® will continue to provide any updates to this matter, and should any member have questions, please reach out to Vice President, Member Engagement and Public Policy Rebecca Peters, rpeters@worldwideerc.org.

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