UK Brexit negotiator arrives for final day of talks

Britain's main Brexit negotiator, David Frost, arrived at the European Commission on Sunday for a last-minute attempt to strike a post-Brexit trade deal with the EU. The two sides told their citizens to brace for New Year upheaval in the increasingly likely event of a no-deal scenario.

A no-deal split would bring overnight tariffs and other barriers that would hurt both sides, although most economists think the smaller British economy would take a greater hit because the U.K. does almost half of its trade with the bloc. While both sides want a deal on the terms of a new relationship, they have fundamentally different views of what it entails.

The EU fears Britain will slash social and environmental standards and pump state money into U.K. industries, becoming a low-regulation economic rival on the bloc’s doorstep, so is demanding strict “level playing field” guarantees in exchange for access to its markets. The U.K. government claims the EU is trying to bind Britain to the bloc’s rules and regulations indefinitely, rather than treating it as an independent nation.  

(Image Credits: AP)