Brexit has had worse impact on UK than Covid says Beaune
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Catherine Barnard, professor of EU law at Trinity College, Cambridge, said: “A trade war is a serious possibility. The EU is looking at a range of options – they are exploring routes to take retaliatory measures quickly.” But EU chiefs are reportedly considering going “nuclear” themselves if the UK triggers Article 16, which would terminate the Trade and Cooperation Agreement struck between the two sides last year. This would give the UK a year’s notice before the deal abruptly ends and send Britain tumbling into a so-called no-deal Brexit scenario that would see it trade with Europe on World Trade Organisation (WTO) terms.
Professor Barnard believes Brussels is looking to trigger Article 506 of the TCA that could see them take immediate action and hit the UK fishing industry
She told The Independent: “It means that the EU would get its retaliation in quickly before needing to go to arbitration.
“The retaliation ranges from stopping fishing in EU waters to putting tariffs on UK fish going into the EU, and then tariffs on other goods.
“The French and other countries could also do more rigorous checks on goods coming from the UK, which could gum things up pretty quickly at the border.”
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Nexit fury as Shell chooses Brexit Britain as new home
Nexit campaigners have been left furious by oil giant Shell’s decision to leave the Netherlands in favour of Brexit Britain.
On Monday, Royal Dutch Shell announced it would scrap its dual share structure and move its head office to the UK from the Netherlands, pushed away by Dutch taxes and facing climate pressure in court as the energy giant shifts from oil and gas.
The company, which has come under scrutiny from investors about its dual structure and had recently been hit by a Dutch court order over its climate targets, wants to drop “Royal Dutch” from its name – something that has been a part of its identity for more than a century.
There has been a long-running back-and-forth between the firm and Dutch authorities over the country’s 15 percent dividend withholding tax, which Shell had been aiming to avoid paying with its two share classes. This new and wide-ranging structure resolves that.
Last month, the biggest Dutch state pension fund ABP said it would drop Shell and all fossil fuels from its portfolio.
But there has been a furious backlash from Nexit campaigners, who are blaming the Dutch government’s submission to the EU for Shell’s decision.
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