Brexit Whitepaper — April 2019
While the EU agreed to a Brexit delay until October 31, 2019, avoiding a “potentially calamitous” Brexit set for April 12, 2019, there is no guarantee of an orderly departure from the EU in terms of an arrangement for continued access to the EU common market. The UK can leave before October 31, 2019 if Prime Minister Theresa May can get her deal approved by UK parliament. Without a deal, UK’s trade regime will default to the most-favored-nation clause under the World Trade Organization rules. This will negative impact UK’s economy and the economy of the EU and non-EU countries with trade relationships with the UK.