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U.K. Seeking ‘Canada Plus Plus Plus’ EU Trade Deal, Davis Says

  • Likelihood of no deal or WTO rules drops ‘dramatically:’ Davis
  • Brexit secretary says exit payment depends on trade deal
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Brexit Breakthrough: Deal Reached to Unlock Negotiations

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Britain wants a trade deal with the European Union that includes the best parts of the bloc’s agreements with Japan, Canada and South Korea, along with financial services, Brexit Secretary David Davis said, showing optimism a pact can be struck within a year.

The chances of the U.K. leaving the EU without a deal, defaulting to World Trade Organization rules, have “dropped dramatically,’’ Davis said in a BBC TV interview on Sunday. Still, he signaled the painstaking agreement struck on Friday to end the first phase of Brexit negotiations isn’t binding, and that Britain’s exit payment of as much as 39 billion pounds ($52 billion) is contingent on reaching a free-trade agreement. Doing so, he said, “is not that complicated.”