Sept. 20, the EU rejected a U.K. trade proposal referred to as the Chequers plan, causing U.K. Prime Minister Theresa May to say the two regions are now “at an impasse.” May also underscored a desire to come up with a Brexit deal that respects the results of the referendum. Council president Donald Tusk said, “there are positive elements in the Chequers proposal, the suggested framework for economic cooperation will not work. Not least because it risks undermining the single market.”
The 2016 vote on this matter immediately brought turmoil to the global economy, and now two years on, there’s not much more clarity on what the arrangement will look like. With the March 29, 2019, deadline to reach a deal, concerns are rising over the potential for a no-deal Brexit.
Brexit may have significant impact on data flows between the U.K and EU. The IAPP has been on the beat, working to answer privacy and data protection professionals’ pressing questions.