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Brexit Delayed to the End of October
The European Union has agreed to extend the formal deadline for the U.K. to leave the bloc to Oct. 31.
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The European Union has agreed to extend the formal deadline for the U.K. to leave the bloc to Oct. 31.
Britain voted for Brexit in June 2016. That set in motion a formal process that called for the U.K.’s departure on March 29. But Britain’s government has been deadlocked over how to execute the plan without incurring new tariffs and trade restrictions with the EU, its largest export market.
Brexit already had been delayed to April 12 by a fight over Prime Minister Theresa May’s compromise proposal. Hardliners favor the clean break of a no-deal Brexit, even if it means new taxes on imports and exports. Moderates are still searching for a way to exit the bloc but retain the duty-free perks of EU membership. Still others want a new vote on whether to leave at all.
Several carmakers with production facilities in England have begun shutdowns intended to help them ride out supply chain disruptions based on the timing of the original exit date. Most have been issuing increasingly pointed warnings that the continuing Brexit drama is making plant closures more likely.
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