Here’s what Liz Truss resignation means for Canada-U.K. trade deal

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Canada

By Staff

The Canadian Press

1:40
Liz Truss resigns as British prime minister: “I can’t deliver the mandate”

Liz Truss announced her resignation as British prime minister Thursday morning following weeks of controversy over her economic plan, which sent shockwaves through the markets and divided her Conservative Party just six weeks after she was appointed.

More political tumult in Britain is likely to further stall trade talks with Canada, experts say.

U.K. Prime Minister Liz Truss stepped down today after a mere six weeks in office following ministers’ resignations over her controversial tax policies.

Read more:

Liz Truss resignation: Why was the British PM’s tenure so short, and what happens next?

The ruling Conservative Party says it will elect a new leader in a week, who will then install a new cabinet.

Canadian trade experts say the changeover will mean it takes longer for Ottawa and London to sort out how they will exchange goods and services.

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Britain left the European Union in 2020 and has since focused on deepening ties with countries outside Europe, especially Commonwealth peers such as Canada.

2:18
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A continuity agreement is currently in place that keeps most of the former European Union rules in place until Canada signs a new trade deal with Britain.

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