£110bn is less than 10% of total UK trade. It is only reached by including Norway and Switzerland where the continuity agreements do not replicate existing trade. The only 1 of our top 25 trade partners to agree an unchanged FTA asked for a renegotiation after 2 years.
Good job in getting what we've got. But it falls some way short of the promises politicians have made, or indeed of specifically what is claimed. businessinsider.com/liam-fox-promi…
I think on the basis of a subsequent exchange that the £110bn figure is incorrect as it includes Norway where the deal was to cover a no-deal Brexit but a deal from Jan 1 2021 has not been agreed. (Techy point - unless the gov stats include trade with UK territories)
Incidentally UK-EU FTA talks in effect cover 53% of our trade as the terms of any UK deal with Switzerland, Norway, Iceland, and Turkey are dependent on their EU relationship and therefore the deal we do or not with the EU.
