Fox warns EU against new trade barriers
TORY Cabinet minister Liam Fox yesterday warned EU leaders that slapping new trade barriers on Britain will make their own economies less competitive.
In a speech to manufacturing industry bosses in London, the International Trade Secretary promised that the Government was committed to protecting UK exporters in the Brexit negotiations with Brussels.
And he said any attempt by the EU to punish Britain with tariffs or trade barriers were bound to backfire.
“This Government opposes erecting barriers to trade where none yet exists, or disrupting the commercial relationships that exist between this country and our continental partners,” he said.
“If Europe erects barriers to trade and investment that do not exist today, it will make Europe less competitive in a global context and less attractive to international investors.”
Prosperous
Dr Fox said the Government’s Brexit legislation would enable Britain to continue the EU’s trade arrangements with third countries, protecting UK exporters’ access to overseas markets.
“It will also give us the tools we need to fight back against any unfair subsidies or dumping from abroad,” he added.
“We want to protect the interests of British manufacturers. We want to maintain your access to markets across Europe and beyond.
“We want to ensure that the UK continues to attract the best and brightest talent from across the world.
“We are a nation of innovators. And, as government and industry work together, we can build a brighter and more prosperous future, for the UK and the world.”
He added: “The United Kingdom is one of the largest manufacturing economies in the world, with nearly £270billion in exports. We are laying the groundwork for new trade opportunities for trade in Africa and other growing economies.”