U.K.'s Brexit Vision Takes Shape as Davis Calls for Mutual Trust
- Close alignment of rules, mutual recognition of regulators
- Fall-back plan to halt payments if EU refuses trade deal
U.K. Warns It Won't Pay Brexit Bill Without Good Trade Deal
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Prime Minister Theresa May is planning to set out next week the kind of trade deal she wants to achieve in Brexit negotiations but the broad outlines of her vision are already becoming clear.
Britain will seek to stay close to the European Union’s rulebook in some areas, while aiming to break away quickly in a few others. The key tool to ensure U.K.-EU trade is as smooth as possible would be the “mutual recognition” of each other’s regulatory regimes, under the British plan.