The European Union and the British government seem to be quite closer to striking a post-Brexit trade deal, with the British premier briefing on the progress in talks with the bloc. In the last months of often fraught talks, future business competition rules and fishing rights have been the major hurdles in reaching an agreement.
BBC reported that the incumbent government seemed very confident about striking a deal in the coming days or weeks. It further added that the top negotiators are thought to be in the process of finalizing the details of the agreement. Reportedly, the document is thought to be of more than 2,000 pages, and all the parties have until December – when the UK’s transition period ends – to get it approved from the upper and lower houses.
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Economic experts suggest that if a deal is reached, then there are chances that both the European Union and the UK would refrain from imposing tariffs on each other. To break the deadlock between before the expected pause in the talks, European Commission President Ursula von der Leyen and the UK’s Premier have been in contact.
During the negotiations, the downing street insisted on having control of the fishing waters as well as retaining a much bigger share of it from them under the current quota system. But on the other hand, the EU’s negotiation team has insisted on introducing a new fishing system and maintaining access to the British waters for boats from other European nations, including Spain and France.
Besides that, both sides have continuously disagreed on whether the UK companies should follow the laws the same as the firms in the bloc and the post-Brexit dispute mechanism. Since January 31, when the British government left the bloc, it has been following the EU’s rules. But now, many British cabinet members have ruled out any extension in the transition period.
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