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British Foreign Minister Boris Johnson criticized the proposal for a customs partnership with the European Union, for which Prime Minister Teresa May spoke and which was supported by Finance Minister Philip Hammond, Daily Mail writes. The British authorities must decide which of the two customs schemes of relations with the EU they will apply. Theresa May advocated a customs partnership, implying that the UK will, on behalf of the EU, levy duties on goods imported into the country and sent to the EU. Fears of opponents are due to the fact that such an option may prevent the UK from pursuing an independent trade policy outside the EU. According to the second scheme, called “maximum simplification”, the goods will be monitored electronically, they will be handled by the tax authorities of the respective countries. As the newspaper notes, this will lead to significant disagreements on the borders of Great Britain with the EU.
The reimplementation of virus-related lockdowns in some states dragged the U.S. economic outlook in the past month, according to economists in a Reuters poll who also warned that the monitored rebound in employment may reverse by the end of ...
The Dollar traded lower earlier on Thursday in European markets after new hope of an economic recovery in Europe bolstered sentiment. The Dollar index fell by 0.1% to 954.808 at 3:10 AM ET (0710 GMT), gaining only slightly from the four-month ...
Japan's industrial output is expected to recover in June from a double-digit decline in May amid hopes that factory activity may have reached its lowest due to the coronavirus pandemic, according to a Reuters’ poll of 13 economists. While ...
After a record decline seen last quarter, Britain’s economy is expected to grow at its most rapid pace in decades. The recovery is likely as large portions of the economy resumed operations after coronavirus-related lockdowns were lifted. Despite ...
The Bank of Thailand chief on Monday said that it could take several years for the country’s foreign tourism industry to recover as the economy continues to take a beating from the COVID-19 pandemic. The central bank expects foreign ...
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