Hoekstra Says Brexit Is Bad for Netherlands, Trade Will Suffer

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Dutch Finance Minister Wopke Hoekstra cautiously welcomed the Brexit deal signed off by European leaders Sunday, but said the divorce from the U.K. remains bad for trade -- especially for the Netherlands.

“We will feel the impact as we have a lot of trade with the U.K.,” Hoekstra said in an interview at television program Buitenhof, adding that the government will continue to prepare for a no-deal Brexit just in case.

On Sunday, the leaders of the 27 other EU member countries backed the legal text of the U.K.’s divorce at a special summit in Brussels. U.K. Prime Minister Theresa May now faces huge opposition from her own Conservative Party as she tries to persuade Parliament to back it.

Britain is a key trading partner of the Netherlands, with the port in Rotterdam playing a vital role connecting the two economies. The port handles millions of tons of shipments between the Netherlands and Britain each year, including food and fresh flowers.

To contact the reporter on this story: Fred Pals in Amsterdam at fpals@bloomberg.net

To contact the editors responsible for this story: Alaric Nightingale at anightingal1@bloomberg.net, Neil Chatterjee, Andrew Blackman

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