Business and commercial: Canada wants trade reassurances from UK

Canada is looking for some reassurances regarding its overseas trade deals. Politicians here wants more than optimistic talk from the United Kingdom's new Prime Minister regarding the U.K.'s business and commercial dealings with Canada, which likely will affect Canadian entrepreneurs. Canada's business owners want to see trade continue to grow between the two countries even on the heels of the U.K.'s exit from the European Union.

Those in business worry about the economic impacts of the U.K. leaving the EU -- coined as Brexit and despite bargaining with Canadian trade negotiators, the two countries have yet to reach some formal trade deal. Since the U.K. hasn't reached an exit deal with the EU it offered other nations access to 87% of what the U.K. imports free of tariffs without the need to reciprocate when it comes to British exports. But Canada looked at that option as the U.K. undercutting its preferred trade deal with Canada. U.K. media reports indicated that the U.K. was furious with Canada, which failed to give the former Prime Minister a political win, but Canadian government officials insist this is not the case.

British officials insist that the trade relationship between Canada and the U.K. is solid with trade talks continuing. Both sides hope for a seamless transition even in the throes of Brexit. What happens between the U.K. and the EU will ultimately dictate what will happen between Canada and the U.K. in terms of trade.

Those who have an interest in business and commercial dealings in Canada are likely wondering what the long-term outlook for trade is between Canada and the U.K. There are times when the law crosses into other territory and a lawyer may be able to assist a client who has an vested interest in international trade. Many businesses have many facets and when legal issues are complex and complicated, a lawyer may be able to provide answers.

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