With the end of the “Brexit” transition period in sight, Britain looks set to exit the EU without a trade deal with its continental neighbors. On the horizon instead is a move toward protectionism — economic “statism” in the homeland of Adam Smith. It appears that those of us who feared Brexit would become a nationalist enterprise are about to realize our nightmare.
UK-EU negotiations remain uncooperative, and the smart money is on a “no-deal Brexit” when the transition period ends on January 1. Prime Minister Boris Johnson has proclaimed a far more open stance on trade than has President Donald Trump, but disagreements over EU rules, access to fisheries, and the role of the European Court of Justice have perhaps changed his tone.
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