European leaders welcomed on Thursday that Boris Johnson's expected electio...
BRUSSELS - European leaders welcomed on Thursday that Boris Johnson’s expected election victory provided clarity on Britain’s withdrawal from the EU, but said it would be challenging to agree a post-Brexit trade deal by the end of 2020.
“It is a very clear result - it will not change by tomorrow morning,” Swedish Prime Minister Stefan Lofven told reporters in Brussels after the first day of an EU summit. EU leaders will discuss on Friday a mandate for the European Commission to negotiate the future relationship with Britain after Brexit now expected at the end of January, with a transition period until the end of 2020.
Britain and the EU have to negotiate a trade deal by the end of 2020 because that is when a transition period for Britain’s withdrawal ends. Without a new deal, trade relations between London and its biggest trading partner - the EU - could be based on basic to World Trade Organization terms.
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