UK trade minister to deny that the UK will lower food standards post-Brexit - Reuters

Joshua Gibson FXStreet

As reported by Reuters, the UK's Trade Minister Liam Fox is expected to expressly reject the idea that the UK will be looking to decrease food restrictions in an effort to secure more lucrative trade deals post-Breixt.

Key highlights

The United States wants Britain to cut European Union regulations after Brexit to boost the chances of the two countries striking a free-trade deal. To pave the way for a deal, Fox is planning to scrap European food standards, Business Insider reported last month.

“There have been a lot of reports lately, mostly on social media, that my department has been planning to lower food and farming standards when negotiating Free Trade Agreements post-Brexit,” Fox will tell farming industry representatives in a speech. “Let me tell you categorically that these reports are untrue.” Opponents of Brexit argue a U.S. trade deal means opening up Britain’s markets to the likes of chlorine-treated chicken and genetically modified crops.

Author

Joshua Gibson

FXStreet

Joshua joins the FXStreet team as an Economics and Finance double major from Vancouver Island University with twelve years' experience as an independent trader focusing on technical analysis.

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