EU, UK to try salvage trade deal in another round of Brexit talks

WION Web Team
London, London, UK (Great Britain) Published: Nov 02, 2020, 10:03 AM(IST)

UK PM Boris Johnson Photograph:( Reuters )

Story highlights

The talks are a final bid to seal a new partnership agreement for when Britain's transition out of the European Union runs its course at the end of this year.

EU and British Brexit negotiators Monday will continue talks in Brussels and until around mid-week -- in a sign both sides are still pushing to avoid a damaging breakdown in trade in less than nine weeks.

The talks are a final bid to seal a new partnership agreement for when Britain's transition out of the European Union runs its course at the end of this year.

If the sides overcome their differences, the new deal would govern everything from trade and energy to transport and fisheries. If they fail, an estimated $900 billion of annual bilateral trade in goods and services would be damaged from January 1 by tariffs and quotas.

Sources said negotiations would continue face-to-face in Brussels on Monday following a full weekend of talks. An update on their progress and the chances of a deal was expected on Wednesday or Thursday.

EU Brexit negotiator Michel Barnier said on Friday that "much remains to be done" to seal a deal.

Both sides have previously signalled their readiness to compromise on fisheries.

For now, Britain and the EU face three main scenarios -- a deal this year that salvages free trade, a tumultuous economic split, or a fudged arrangement that would settle future ties in a handful of areas but leave the rest up in the air.

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