UK Triggers Brexit Process, Vows to Seek 'Bold and Ambitious' EU Trade Deal

The U.K. informed the European Council of its intention to exit the EU, after British Prime Minister Theresa May signed Article 50 triggering the two-year legal process for Brexit negotiations. In a statement to British Parliament Wednesday, May pledged to pursue a "bold and ambitious" free trade agreement with the EU and outside countries, including the "fastest-growing export markets in the world." "Europe has a responsibility to stand up for free trade in the interests of all our citizens," she said. Brexit hasn't affected the U.S.-EU Privacy Shield deal (see 1606280024) but may affect telecom and tech otherwise (see 1606240021 and 1606220001).