Theresa May Arrives in Davos as U.K.’s Post-‘Brexit’ Slide Continues
Mrs. May’s government hopes to negotiate a transitional arrangement with Europe
that allows Britain to remain within the single European marketplace and customs union to ensure that trade continues unabated.
The price of such arrangement will almost certainly be Britain’s continuing to make substantial contributions to the European budget while still living by European rules, including the free movement of people — the very item
that provoked the electoral backlash that delivered the Brexit vote.
“And as we leave the European Union, the U. K. will continue to be a global advocate of free trade.”
The day before, President Emmanuel Macron of France had received rock star-style treatment from a packed crowd
that waited nearly an hour for a chance just to get into the room where he was to speak.
Although the pound has recovered much ground since then, Britain has been choking on the effects of the shift: A net importer of goods, Britain is paying higher prices for products it brings in from Europe, China
and elsewhere, contributing to inflation that is running at a 3 percent annual pace.
DAVOS, Switzerland — In the year and a half since Britain’s shocking decision to sever itself from the European
Union, Prime Minister Theresa May has labored to portray her country’s future as one of glorious progress.
“The U. K. has been at the forefront of championing new trade deals including the E. U.’s deals with Canada and Japan,” Ms. May said.
“I do think we’ve had a very special economic relationship, and we expect
that to continue,” Mr. Mnuchin said, hours before Mr. Trump was scheduled to meet privately with Mrs. May.
