Brexit Is Back With a Vengeance.

(Bloomberg) -- The U.K. and the European Union are embroiled in a fresh stand-off, with Britain calling for the Northern Ireland Protocol -- the crucial agreement on which the whole Brexit deal rests -- to be replaced. If Britain invoked Article 16, the EU has the right to take immediate and proportionate re-balancing measures, depending on the U.K.'s actions. The EU is the U.K.'s largest trading partner, the destination for 43% of Britain's exports, and the source of 52% of its imports. [Extracted from the article]