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On the last day of January this year, the UK left the EU, but at the same time it remained in the EU acquis for the rest of the year.
The purpose of this transition period has been for the parties to conclude a free trade agreement. But the transition period ends at the beginning of the year and there is still no agreement. According to both parties, there are “significant” obstacles to an agreement.
This is why Boris Johnson travels to Brussels on Wednesday (or Thursday) to meet with the President of the European Commission, Ursula von der Leyen. This is probably the last chance to reach an agreement before the turn of the year.
On Thursday and Friday, the EU Heads of State and Government will hold their last ordinary summit of the year, and will give their political approval to a possible agreement before the formal process begins.
It is not uncommon in the EU context for negotiations to come to an end. It is usually at the eleventh hour that top politicians make the necessary compromises from time to time.
What speaks against an agreement is that Johnson and von der Leyen already talked for hours on the phone during the weekend and Monday night, without result. Now they are investing in a purely physical meeting to see if they can meet the necessary commitments.
Another reason is that Johnson can speak on behalf of his government, but von der Leyen must take into account what the governments of the member states want, even if they have handed over the negotiating mandate to the Commission.
What speaks of an agreement is the realization of the chaos that can affect trade when suddenly customs duties must be paid and customs declarations are examined, which means huge financial losses for both parties.
