Business, Politics, World

Brexit: Time running out as Brexit trade talks restart

The UK and the EU have resumed talks on post-Brexit trade in London, with time running out to achieve a deal.

A senior UK government source said the prospects of a breakthrough were “receding” and accused the EU of making “11th-hour” demands.

But a Brussels source denied this, with EU chief negotiator Michel Barnier calling Friday an “important day”.

Both sides have to agree and ratify any deal by 31 December, when the current rules on EU-UK trade end.

If they do not, they will do business on World Trade Organization rules, meaning the introduction of tariffs, or taxes on imports.

The negotiating teams are seeking compromises in key areas – including fishing rights and business competition rule – in time for EU leaders to discuss them at a summit scheduled for Thursday.

And, rather than returning to Brussels as planned on Friday, Mr Barnier is staying in London to continue discussions.

Source: BBC

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