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Trading places: UK PM's post-Brexit task

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Opening sequence

World

Trading places: UK PM's post-Brexit task

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COMING UP:Trading places: UK PM's post-Brexit task

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Transcript

00:00:00
>> Prime Minister Theresa May has hailed post Brexit Britain as a great trading nation, but in reality, that may be easier said than done. I'm Reuters political correspondent, Carly McClellan, in Westminster. This week at the G20 Summit in China, Prime Minister Theresa May said that she wants Britain to be a great trading nation, one of the global leaders in world trade following its exit from the European Union.
00:00:25
I've been speaking former trade negotiators, who told me that one of the biggest problems is going to be the fact that the Britain's future relationship with the EU is not yet clear. Britain hasn't yet triggered the formal process of leaving the EU. That's something that takes two years at least and until then, they say other countries are not going to want to, or be able to, get into the real detail that's involved in trade negotiations.
00:00:51
If Britain can't actually formally sign deals with other countries until it's left the EU, the prime minister has said that it can do groundwork and prepare these deals so that they're ready to go as quickly as possible after it leaves the block. But in reality, until that relationship with the EU is clearer, they're not going to be able to get that far.
00:01:11
So, although there's talk of possible transitional agreements that they could put in place, it's unlikely they're going to have any deals ready to sign on day one after leaving the EU.