UK Government releases further details of EU reset deal

• UK and EU also agree security and defence partnership.
• The partnership paves way for UK firms to access EU’s 150bln pound defence fund.
• Sanitary and phytosanitary deal has no time limit.
• Closer co-operation on emissions trading systems will mean UK businesses not hit by EU carbon tax.
• UK economy to add nearly 9 bln pounds by 2040 as a result of deals on food and drink, emissions trading.
• Deal will protect British steel exports from new EU rules and tariffs.
• UK and EU to discuss access to EU facial image databases.
• Britsh holidaymakers will be able to use more passport e-gates in Europe.
• UK and EU agree to co-operate on youth mobility scheme, scheme will be capped and time-limited.

Well, this is good news for the UK economy, although I don’t think the market is focused on this right now. Trump’s trade war seems to at least have sped up lots of trade deals, which should be good for the global economy.

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This article was written by Giuseppe Dellamotta at www.forexlive.com.