Live, rolling coverage of business, economics and financial markets as Canada says UK was unwilling to give access to agricultural products
The end of trade talks between the UK and Canada is a “relief for farmers”, the head of the British National Farmers’ Union (NFU) has said.
Agricultural products represent a tiny proportion of output in the UK and Canada. Only 0.8% of UK GDP in 2022 and 1.7% of Canada in 2019 was from agriculture, forestry and fishing, according to the World Bank. However, the position of farmers is often a totemic issue in trade talks.
Trade on agricultural products is always the first thing to be discussed and the last thing to be agreed, and I’m pleased the government has stuck to its line and not given way.
Canada has played hard ball for a long time and it was always going to come to a crunch point.
Continue reading…Live, rolling coverage of business, economics and financial markets as Canada says UK was unwilling to give access to agricultural productsFull story: UK suspends trade talks with CanadaThe end of trade talks between the UK and Canada is a “relief for farmers”, the head of the British National Farmers’ Union (NFU) has said.Agricultural products represent a tiny proportion of output in the UK and Canada. Only 0.8% of UK GDP in 2022 and 1.7% of Canada in 2019 was from agriculture, forestry and fishing, according to the World Bank. However, the position of farmers is often a totemic issue in trade talks.Trade on agricultural products is always the first thing to be discussed and the last thing to be agreed, and I’m pleased the government has stuck to its line and not given way.Canada has played hard ball for a long time and it was always going to come to a crunch point. Continue reading…
