The British government on Wednesday published the Internal Markets Bill, which it claims is designed to ensure that trade between the four countries of the United Kingdom will remain unaffected if Brexit does not occur.
If the legislation is voted on by an Act of Parliament, then UK Prime Minister Boris Johnson effectively overwrites the elements of the Brexit deal signed with London last year. In particular, it would weaken a portion of the deal that exists, eliminating the need for a rigid border between the Northern Ireland Protocol and Northern Ireland and the Republic of Ireland, according to the 1998 Good Friday Agreement.
Pelosi’s statement would be a major setback for Britain, as several leading Brexiters have claimed that the ability to sign international trade deals would be the most obvious nuisance of leaving the European Union. As a member state and part of the EU Single Market and Customs Union, the UK could not negotiate its own trade deals and was instead represented at the World Trade Organization by a representative of the European Union.
A trade deal with the US has repeatedly been cited as the most important, given the size of the US economy, given the historical relationship between the UK and the US, and the fact that the US is Britain’s largest single trading partner. Despite no formal business agreement.