The UK would need to accept temporary trade deal with the EU while the procedure for the Brexit continuous, this was shared by a government spokesman.
After the country is fully out of the EU and the procedure for Brexit is completed, then UK can start new negotiations for a new trade agreements between both. The best deal that UK is currently seeking and trying for will not happen within the next 2 years.
This temporary agreement is very important for all the US firms and large multinational corporations that have headquarters and offices in London and the UK. The US is the biggest investor and trade partner of the country. The next trade agreements between the Island and the rest of the Non-EU countries have to be discussed and agreed upon as well, but they will have to be within the framework of the agreement between the UK and EU.
This new developed situation will weight on the value of the pound, as the temporary agreement will not be the most favorable for the country and its trade.
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