The British elections on Dec. 12 should start to simplify the outlook for Brexit. A majority Conservative government – the most likely outcome according to polling data – will lead to passage of the existing Withdrawal Bill and an exit from the EU with or without a trade deal by Jan. 31, 2021. Any combination of Labour or Liberal Democrats will likely lead to a referendum on a revised Withdrawal Bill or a termination of Brexit, again followed by trade deal negotiations with the EU. A trade deal with the U.S. is also becoming increasingly important. British export to outside the EU rose b...