WASHINGTON, D.C.—U.S. Chamber Executive Vice President and Head of International Affairs Myron Brilliant issued the following statement today in response to indications from the lead British and European trade deal negotiators that “significant divergences” remain:
“The UK-EU negotiations have reached an absolute crunch point. The UK’s departure from the EU Single Market and Customs Union will create significant disruptions for American investors and exporters, but the magnitude of disruption will be far greater if no deal is in place before January 1. We strongly urge negotiators on both sides to make the tough choices and find the pragmatic solutions to unlock a mutually acceptable agreement as soon as possible.
“A successful outcome here is essential. We all have a stake in minimizing frictions in the flows of goods, services, data, people, and capital between the U.S., UK and EU. A robust UK-EU deal can also help facilitate timely conclusion of a U.S.-UK trade agreement, which we hope can be accomplished early next spring.”