The South American customs pact Mercosur and the EU are “very close” to a far-reaching free trade accord, Brazil’s foreign minister said, a deal that would serve as a powerful counterpoint to growing tensions in global trade.

Supporters of Brexit are “completely wrong” if they think recourse to an obscure trade rule will stop tariffs springing up overnight if Britain leaves the European Union without a deal, EU Trade Commissioner Cecilia Malmstrom said on Friday.

Competition commissioner sees agreement with Canada as model but says deal with Brexit UK would be different

The EU has leapt ahead of the UK in the pursuit of free trade deals with Australia and New Zealand after member states gave the green light for talks to start within weeks.