Brexit betrayal as Bank of England urges UK works with EU

The Governor of the has urged Britain to take decisive steps toward rebuilding its trade relationship with the European Union, calling for renewed cooperation to repair the damage caused by post-Brexit disruption.

Speaking to the following a new trade agreement with the United States, Andrew Bailey stressed the economic benefits of improving UK-EU trade, saying that restoring ties would help ease pressures on both growth and inflation. Mr Bailey said: "As a public official, I don't take a view on Brexit. But reversing the post-Brexit hit to UK-EU trade would be beneficial. It would be beneficial to have a more open economy to trade with the . Because there has been a fall-off in goods trade with the EU over recent years."

The UK Government is currently engaged in talks with Brussels to reset its trade and security relationship with the bloc ahead of a summit later this month. Mr Bailey expressed hope that these negotiations could lay the groundwork for repairing the fractured trade partnership.

He told the : "It is important we do everything we can to ensure that whatever decisions are taken on the Brexit front do not damage the long-term trade position. So I hope that we can use this to start to rebuild that relationship."

His comments come in the wake of a , which includes tariff relief on some British cars, steel, and aluminium.

However, a 10% import duty remains on most UK goods, limiting the overall benefit of the deal.

Mr Bailey suggested that the agreement with Washington could open the door for a more targeted veterinary pact with the EU - one that might align food and agricultural standards and reduce red tape on exports.

He also pointed to the broader importance of trade deals in an increasingly fragmented global economy. He said: "Trade deals are important. Trade can be done, and it is important."