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U.K. and EU already splitting on trade

British trade with the European Union has declined since June’s Brexit vote, while trade remained stable between the U.K. and the China and the U.S.

Exports to the EU fell to $47.3 billion at the end of 2016, from $52.7 billion at the end of 2015. Imports fell 7.6% during the year to $77.7 billion.

Trade with the U.S. was starkly contrasted in the third and fourth quarters of 2016 as exchange rates between the two currencies saw the pound recover in the third quarter before falling below $1.30 in early October.