UK says EU trade talks at tricky point as hopes of deal dim

 Britain's business minister said Friday that UK-EU tre talks are at a “difficult” point, as British officials poured cold water on hopes of an imminent breakthrough — and France said it could veto any agreement it didn't like.

UK Business Secretary Alok Sharma said Britain was “committed to reaching an agreement.” 

But, of course, time is short and we are in a difficult phase. re's denying that, he told BBC.

re are a number of tricky issues that still have to be resolved.

 EU chief negotiator Michel Barnier, his British counterpart David Frost and ir teams remained locked in talks in a London conference center Friday after a week of late-night sessions fueled by deliveries of sandwiches and pizza.

UK officials sought to dampen hopes of an imminent deal, briefing media outlets that EU h set back negotiations by making last-minute demands — an allegation bloc denies.

UK left EU early this year but remains part of 27-nation bloc's ecomic embrace during an 11-month transition as two sides try to negotiate a new free-tre deal to take effect Jan 1. Any deal must be approved by lawmakers in Britain and EU before year's end.

Talks have dragged on as one deline after ar has slipped by. First, goal was a deal by October, n by mid-vember. On Sunday, Britain said negotiations were in ir final week. w two sides say y could stretch into weekend or beyond.

European Council President Charles Michel ted that it wasn't first time that delines h slipped.

“We will see what will happen in next days,” he said in Brussels.

But end of December is end of December and we kw that after 31st of December we have 1st of January, and we kw that we need to have clarity as soon as possible.

A tre deal will allow goods to move between Britain and EU without tariffs or quotas after end of this year, though re would still be new costs and red tape for businesses on both sides of English Channel.

If re is deal, New Year's Day will bring huge disruption, with overnight imposition of tariffs and or barriers to UK-EU tre. That will hurt both sides, but burden will fall most heavily on Britain, which does almost half its tre with EU. 

(IM CREDITS: PTI)