The U.K. reached a temporary deal that secures trade with Norway and Iceland should Britain tumble out of the European Union with no deal at the end of March, reports Bloomberg.
The accord secures prolonging zero tariffs on established quotas on seafood and agricultural products as well as industrial goods according to a statement from Norway’s Foreign Ministry.
The deal also establishes a basis for negotiating a permanent agreement to ensure the continuation of as much of the open trade arrangement that the single market represents, including trade in services, the ministry said.
