The EU and the UK had agreed an interim deal on how to split the existing ‘tariff rate quotas’. These allow countries (like New Zealand and the USA) to import goods into the EU at a low tariff until a quantity is reached when a higher tariff kicks in.
Despite President Trump saying that the US would negotiate a ‘beautiful trade deal’ with the UK after Brexit they have objected to this first stage of the deal. Britain is going to at the back of the queue for all the negotiations and the other nations are going to force us to accept unpalatable terms to get a good deal.
To make matters worse the £ is on the slide again losing 3% in a month. Added to that car sales are ‘falling off a cliff’. It’s not just the Tory slogan that’s falling.