Europe urged to get prepared for UK’s trade war

Sterling investors get nervous as Brussels has been urged draw up tough retaliatory measures in case the UK carries out its threat to suspend trading arrangements for Northern Ireland Protocol contained in the Brexit deal.

Representatives of five member states met European Commission vice-president Maros Sefcovic, this week, to demand contingency plans for a possible trade war.

UK Brexit Minister Lord Frost’s demanded to rewrite the Protocol to at least weaken the authority of the European Court of Justice to oversee the rules. GBP investors are concerned about the very big gap between the ideas EU is putting on the table today and what the UK Government is asking for.