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How could trade deals be affected by the UK's decisions to leave the European Union EU?
Wiki User
∙ 7y ago
Enormously! Many trade deals the EU have made include the UK. As and when the UK leaves the EU most of these will have to be re-negotiated, not only with the UK, but in many cases, with the EU. This can take many years to finalise. In addition teh Uk currently is the largest importer of EU country products and services. The UKs leaving will leave a massive trade and financial trade hole in the economy . Between 1999 and 2014, goods imported by the UK from the EU have risen by 4.9% per year on average, compared to exports which have risen by 2.5% per year, causing the UK's trade in goods deficit with the EU to rise to £77.0 billion. The UKs leaving is therefore going to be felt across the EU if a trade agreement is not tabled and accepted by the UK before Article 50 is effected.
Wiki User
∙ 7y ago
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Which year did Britain join the EEC?
AnswerOn 1 January 1973 the UK joined the European Economic Community (EEC). The EEC was an economic free trade mechanism between sovereign states; it now no longer exists, having been replaced by the European Union. The UK joined the European Union on 1 November 1993 when the Treaty on European Union (otherwise known as the Treaty of Maastricht) came into force.No country could have joined before November 1993 as the European Union did not exist till the Treaty on European Union came into force.
