Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

UK warns on sustainability of post-Brexit N.Ireland trade rules

EconomyMay 12, 2021 09:16AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
2/2 © Reuters. FILE PHOTO: Britain's cabinet minister in charge of relations with the European Union, David Frost, walks outside Downing Street in London, February 24, 2021. REUTERS/John Sibley 2/2

LONDON (Reuters) -The way in which post-Brexit trade rules for Northern Ireland are operating may not be sustainable for long, Britain said on Tuesday, as firms count the cost of disruption and pro-British loyalists oppose requirements brought in since Jan. 1.

London and Brussels agreed to keep Northern Ireland within the EU's trading sphere, avoiding a hard border on the island of Ireland but introducing trade barriers, including a customs border, between the province and the rest of the United Kingdom.

"Businesses have gone to extraordinary efforts to make the current requirements work, but it is hard to see that the way the Protocol is currently operating can be sustainable for long," British negotiator and junior minister David Frost said in a statement.

"I hope they will take a common sense, risk-based approach that enables us to agree a pragmatic way forward that substantially eases the burdens on Northern Ireland."

The EU and Ireland have said there is no reason to change the Brexit divorce deal which was signed by Prime Minister Boris Johnson and is now an international treaty. Talks between London and Brussels regarding the province have continued in 2021.

Angry young loyalists rioted last month over the perceived growing power of the province's Irish nationalists, who have long sought a united Ireland, and barriers to trade with mainland Britain following its exit from the European Union.

Instability has been compounded by an announcement that the province's pro-British First Minister Arlene Foster is to step down.

"Solutions must be found rapidly in order to protect the Belfast Agreement in all its dimensions and to minimise disruption to the everyday lives of people in Northern Ireland," said Frost, referring to the 1998 Good Friday accords that ended decades of loyalist-nationalist bloodshed.

"We will continue to consider all our options in meeting our overriding responsibility for sustaining the peace and prosperity of everyone in Northern Ireland.”

UK warns on sustainability of post-Brexit N.Ireland trade rules
 

Related Articles

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email