EU Weighs Targeted Trade Action If U.K. Reneges on Irish Accord



John Follain | Bloomberg

Certain member countries are pushing the European Union to consider scrapping the trade provisions of its post-Brexit accord if the U.K. follows through with its threat to renege on its commitments related to Northern Ireland. 

The EU could terminate in just nine months the trade portions of the Trade and Cooperation Agreement — the deal struck at the end of last year establishing tariff-free commerce — allowing the bloc to impose duties on British goods, according to officials familiar with the discussions. 

Maros Sefcovic, the bloc’s Brexit negotiator, is meeting U.K. Brexit minister David Frost in London Friday to discuss the impasse over Northern Ireland. Frost says that the treaty reached by both sides that sets out customs obligations in the Irish territory is too onerous and needs to be renegotiated. 

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