Britain’s Prime Minister Boris Johnson and European Commission President Ursula Von Der Leyen will seek to break the deadlock over a post-Brexit trade deal on Saturday.
According to the international news agency, negotiators for the two sides called in the two leaders after saying “significant divergences” remained following a week of intensive talks.
Time to get a deal through is running out as the UK is likely to leave EU trading rules on 31 December.
Most of the terms of the deal have been completed but key points remain. These points include fishing rights, the rules governing state subsidies for business, and how the agreement is policed.
The EU’s chief negotiator Mr. Barnier and his UK counterpart Lord Frost released statements on Friday. They said, “After one week of intense negotiation in London, the two chief negotiators agreed today that the conditions for an agreement are not met, due to significant divergences on the level playing field, governance, and fisheries.
“On this basis, they agreed to pause the talks in order to brief their principals on the state of play of the negotiations.”
If an agreement is reached, it will need to be translated into all EU languages and ratified by the European Parliament.
A Glimpse Of Brexit Deal
- The UK left the European Union on 31 January 2020. But leaders required time to negotiate a deal. They were given 11 months.
- According to the international news agency, The UK and the EU have until 31 December 2020 to agree on a trade deal as well as other things, such as fishing rights.
- If there is no deal, then border checks and taxes will be launched for goods traveling between the UK and the EU.
France’s Europe minister suggested his country could veto a deal if they are not satisfied. French President Emmanuel Macron has been keen to ensure the fishing industry won’t lose too much access to British waters.
Meanwhile, the spokesman for German Chancellor Angela Merkel said “there is always room for compromise”.
And Irish Prime Minister Micheál Martin said he “fervently hoped” a trade deal can be agreed.