EU Ready to Drop Brexit Deal if UK Walks Back Northern Ireland Protocol
The EU would likely launch infringement procedures quickly against the U.K. and suspend the Brexit trade agreement if the British government revokes its trade commitments concerning Northern Ireland, a person familiar with the matter said, Bloomberg reported May 11. The EU's notice comes amid threats from the U.K. that it will revoke the Northern Ireland protocol, saying it disrupts trade between Northern Ireland and the rest of the U.K., threatening the Good Friday Agreement that ended the years of sectarian fighting in the area.
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The Times of London reported May 10 that U.K. Foreign Secretary Liz Truss had lost faith in the negotiations, drafting legislation that scrapped large parts of the deal. In response, the EU also said it would freeze the privileged access to the EU single market granted to U.K. companies and halt talks over the status of Gibraltar. The European Commission would then be responsible for recommending a course of action.