Fox Business Flash top headlines are here. Check out what’s clicking on FoxBusiness.com.
LONDON — Business groups are calling for more time to adjust to Britain’s new trade agreement with the European Union, saying new rules set to come into force next week risk disrupting the $590 billion-plus annual trade in goods that previously flowed freely.
Continue Reading Below
The U.K. and EU said Thursday they had signed an agreement over their future relations, setting the seal on the 2016 British referendum decision to leave the bloc. That was a relief for businesses that feared four years of politically charged negotiations could end without a trade pact, resulting in tariffs on goods for both sides.
UK, EU ANNOUNCE POST-BREXIT TRADE DEAL, DAYS BEFORE DEADLINE
But despite the reprieve, for the first time in almost half a century, food, motor vehicles and other goods moving between the EU and U.K. will from Jan. 1 face customs checks and need to meet separate sets of standards and regulations.