Brexit trade talks will continue to see whether an agreement can be reached, says EU

After a call between the European Union and the UK PM Boris Johnson, European Commission President Ursula von der Leyen said that Brexit trade talks will continue. While speaking in Brussels, von der Leyen said that the leaders believe that it is responsible at this point to go the extra mile. She also added that both the sides have discussed major unresolved topics and the negotiating teams are now working day and night to see whether an agreement can be reached. 

In a statement, von der Leyen said, “We had a useful phone call this morning. We discussed the major unresolved topics. Our negotiating teams have been working day and night over recent days. And despite the exhaustion after almost a year of negotiations, despite the fact that deadlines have been missed over and over we think it is responsible at this point to go the extra mile”. 

She added, “We have accordingly mandated our negotiators to continue the talks and to see whether an agreement can even at this late stage be reached.”

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The UK and the EU had set a deadline of Sunday to decide whether the negotiations should be abandoned, however, now they have decided to step back from the brink. So far, there is no sign of a decisive breakthrough on the flashpoint of fair competition rules and fishing rights, leaving open the prospect of a no-deal outcome. Neither side has been willing to walk away from the negotiating table and they have been risking the blame for the huge disruption to borders and to economies from no agreed trading terms. 

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Brexit deadlock 

British officials have dismissed negotiations as reaching "difficult points" as the UK still hasn't reach common ground with EU for a post-Brexit trade agreement with respect to fisheries activities, freedom of competition, handling of future relations, and police and judicial cooperation on criminal matters. Johnson stated that it was "very, very, very likely" that the talks on the Brexit negotiations would fail as the UK leaves the EU single market and customs union. This would mean that the UK will stand compliant to World Trade Organisation 1995 terms that are likely to surge business tariffs once the transition period concludes. As per reports, tariffs will hit the UK’s deal governing almost $1 trillion of annual trade.

Meanwhile, The Royal Navy ships are also being readied to take hold of the fishing waters from January 1 if the deal is not reached. These Royal Navy boats are reportedly 80-metre-long vessels that are armed with machine guns. The machines would also have the power to not only halt but also to inspect and impound all the European Union’s fishing boats operating within UK’s exclusive economic zone (EEZ) which can reportedly extend nearly 200 miles from the shore.

READ: Spanish FM: UK Would Suffer More In No-deal Brexit

READ: UK Chambers Of Commerce President On Brexit