Continents
  • Our Firm
  • Careers
  • Contact Us

Brexit – On to the Next Course

January 19, 2018 |

With “sufficient progress” made on initial Brexit negotiations, the next phase of talks between the EU and UK will focus on their future relationship. After months of deliberation, it’s still unclear whether we will ultimately see a soft, medium, or hard Brexit.

  

In the last few weeks of 2017, the EU and UK made welcome progress on red line Brexit issues such as citizens' rights, the financial settlement, and the Northern Ireland border issue. The next round of talks (Phase Two) will focus primarily on the transition period and framework for their future relationship. Phase Two is also likely to shape the terms of any reciprocal market access agreement, which will likely include an extended transition period in which the UK will continue to follow European regulations.

Despite months of negotiation, it is still difficult to predict what form of Brexit will ultimately come to be. However, there are some things that now appear clear. Moving to Phase Two dialogue indicates that “no deal” or “no Brexit” options are low probabilities. It also seems unlikely negotiations will lead to a bespoke financial services arrangement. We expect the outcome to look more like a single all-encompassing trade agreement and all three types of Brexit remain on the menu: soft, medium, and hard. Read more from OnTheRegs.com.

This video is provided by Brown Brothers Harriman & Co. and its subsidiaries ("BBH") to recipients, who are classified as Professional Clients or Eligible Counterparties if in the European Economic Area ("EEA"), solely for informational purposes. This does not constitute legal, tax or investment advice and is not intended as an offer to sell or a solicitation to buy securities or investment products.  Any reference to tax matters is not intended to be used, and may not be used, for purposes of avoiding penalties under the U.S. Internal Revenue Code or for promotion, marketing or recommendation to third parties. This information has been obtained from sources believed to be reliable that are available upon request. This material does not comprise an offer of services. Any opinions expressed are subject to change without notice. Unauthorized use or distribution without the prior written permission of BBH is prohibited. This publication is approved for distribution in member states of the EEA by Brown Brothers Harriman Investor Services Limited, authorized and regulated by the Financial Conduct Authority (FCA). BBH is a service mark of Brown Brothers Harriman & Co., registered in the United States and other countries.

© Brown Brothers Harriman & Co. 2018.  All rights reserved.
IS-03614-2018-01-19   Expiration Date: 01/31/2020