Negotiations between the EU and U.K. to finalize post-Brexit customs and trading arrangements have been delayed by the coronavirus outbreak. They are currently stuck at the organizational stage when they should already be at the end of the third round of substantive talks. Unless the British government changes its stated plan to not request an extension of talks at the end of June there’s a real risk of a “hard Brexit” when the withdrawal period ends in January. In the meantime U.K. trade activity has continued to slow with imports from the EU down 17.0% year over year in February. Looki...