uk-open-to-looser-‘australia-style’-trade-deal-with-eu-–-source

UK open to looser ‘Australia-style’ trade deal with EU – source

People celebrate at the statue of Winston Churchill as Britain leaves the EU on Brexit day in London, Britain, January 31, 2020. REUTERS/Henry Nicholls

LONDON (Reuters) – British Prime Minister Boris Johnson would consider a looser trade agreement with the European Union, similar to the bloc’s ties with Australia, rather than follow EU rules to reach a closer deal, a government source said on Saturday.

“There are only two likely outcomes in negotiation – a free trade deal like Canada or a looser arrangement like Australia – and we are happy to pursue both,” the source said.

Johnson is due to give a major speech on trade on Monday, following Britain’s departure from the EU on Friday after nearly 50 years of membership.

Previously Johnson has said his main goal is to reach a Canada-style trade deal with the EU before an 11-month transition period exp

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