Valerie Hughes comments on the signing of a December 22, 2020 memorandum of understanding (MOU) between Canada and the United Kingdom in CBA National. The MOU lays out commitments each country will take to ensure continued preferential tariff treatment for goods from the date CETA ceases to apply to the United Kingdom until the Canada-United Kingdom Trade Continuity Agreement (Canada-UK TCA) is ratified and implemented.

Valerie says of the MOU, "The important thing is that there is no gap. Except for the fact that, in three years, we'll have to have a new trade agreement with the UK, I expect it to be almost seamless."