LONDON / BRUSSELS: British Prime Minister Boris Johnson will speak with European Commission President Ursula von der Leyen on Saturday to try to break out of a deadlock in time-running trade talks to avoid a chaotic end of the Brexit saga.
Britain left the European Union on January 31, but the rules governing trade, travel and business have remained unchanged during a transition period ending on December 31, when a new relationship will be established, with or without an agreement.
The talks between Johnson and von der Leyen could provide the political impetus to bring the parties closer together to bridge their substantial differences, or highlight how “red lines” on both sides mean that a deal remains out of reach.
If the two sides fail to reach an agreement, the five-year Brexit divorce will end in disarray just as Britain and Europe face huge economic cost. COVID-19
outbreak.
British and EU negotiators halted trade talks on Friday to ask their leaders to try to bridge the gaps and reach a deal after a week of negotiations failed to bridge significant differences between the two sides.
“We remain calm, as always, and if there is still a way, we will see,” EU chief negotiator Michel Barnier told stations in London as he left for Brussels.
Johnson was expected to speak with Barnier’s British counterpart David Frost and other officials on Saturday morning, before von der Leyen’s call.
The pause in the talks on Friday was the latest twist in months of negotiations that have barely moved on the three thorniest issues: fisheries, guarantees of fair competition and ways to resolve future disputes.
Sources on both sides said French lawsuits over fishing rights in British waters remained a key issue.
However, an EU diplomat said that French President Emmanuel Macron was not the only one with reservations, and several member states had also raised concerns about the extent to which Barnier had made progress on competition matters, known as equality of terms.
“It is not just Macron,” said the diplomat.
Britain says the EU must respect its sovereignty because the outcome of the 2016 Brexit referendum was a vote to “regain control.”
But the EU says Britain’s proximity to the bloc means it cannot offer the “Canada-style” free trade deal Johnson had been seeking.
Neither side has walked away from the talks yet, suggesting they still have some hope of securing a deal governing nearly $ 1 trillion of annual trade to avoid a disorderly end to more than 40 years of British membership in the European club. .
In the absence of a trade deal, the UK would trade with the EU on the terms of the World Trade Organization, leading to potentially significant new tariffs and price increases for some goods.
A no-deal exit is the nightmare scenario for companies and investors, who say it would ruin borders, scare financial markets and wreak havoc on supply chains that stretch across Europe and beyond.
Disclaimer: This post has been automatically published from an agency feed with no text modifications and has not been reviewed by an editor.
