Hammond: U.K. wants 'openness' in EU trade

Economy | Markets 11/29/2016, 1:08 PM
Hammond: U.K. wants 'openness' in EU trade

The United Kingdom’s Chancellor of the Exchequer Philip Hammond said his country want the “most open possible trading relationship with the European Union,” once the country leaves the EU.

Speaking at the Commons, Hammond added that less open trade would not help the British economy.

Earlier today, a leaked photograph made after a government meeting showed the notes of an official that said “What’s the model? Have the cake and eat it.” It also added “French likely to be most difficult.”

Downing Street has already denied that the notes represent any kind of official position. However, the British government still disagrees with the EU on the meaning of Brexit as it aims to keep free trade with the bloc but cut immigration. EU officials, on the other hand, have insisted on many occasions that free trade is impossible without free movement.

TeleTrader Newsroom / VP