BRUSSELS (AP) — The Latest on Britain’s scheduled departure from the European Union (all times local):
The governor of the Bank of England has dismissed claims by Conservative leadership campaign front-runner Boris Johnson that the U.K. could retain its trade arrangements in the event of a no-deal Brexit while another deal with the bloc is negotiated.
Johnson has said the U.K. could get a “standstill” under a provision of the General Agreement on Tariffs and Trade in the event of a no-deal Brexit. But Carney told the BBC on Friday that GATT “applies if you have an agreement, not if you have decided not to have an agreement or have been unable to come to an agreement.”
Carney says the U.K. would automatically be hit by tariffs. He says that’s because the Europeans would have to apply the same rules to Britain as every other country outside the tariff-less EU.