The U.K. government will start Brexit negotiations with the EU with an agreement to settle the terms of exit before working on a new trade deal. A precise stance on the trade deal won’t become clear until the “Queen’s Speech” later in the week. Yet, it is more likely than before to include a deeper trade in return for a degree of EU control than before the elections. The quickest way to reach a deal would be for the U.K. to join either the European Economic Area or European Free Trade Area alongside Norway, Switzerland and others. They may not be so willing though given the U.K.’s trade ...