Truss exit may stall Canada-U.K. trade deal

OTTAWA - More political tumult in Britain is likely to further stall trade talks with Canada, experts say.

U.K. Prime Minister Liz Truss stepped down today after a mere six weeks in office following ministers' resignations over her controversial tax policies.

The ruling Conservative Party says it will elect a new leader in a week, who will then install a new cabinet.

I recognise however that, given the situation, I cannot deliver the mandate on which I was elected by the Conservative Party.

I have therefore spoken to His Majesty The King to notify him that I am resigning as Leader of the Conservative Party.

— Liz Truss (@trussliz) October 20, 2022

Canadian trade experts say the changeover will mean it takes longer for Ottawa and London to sort out how they will exchange goods and services.

Britain left the European Union in 2020 and has since focused on deepening ties with countries outside Europe, especially Commonwealth peers such as Canada.

A continuity agreement is currently in place that keeps most of the former European Union rules in place until Canada signs a new trade deal with Britain.