- European Union and British negotiators inched their way to within touching distance of a trade deal early Thursday.
- It is raising hopes a chaotic economic break between the two sides on New Year’s Day could be averted.
- After resolving a few remaining fair-competition issues, negotiators tussled over EU fishing rights in U.K. waters.
- This because they worked right into Christmas Eve to secure a provisional deal for a post-Brexit relationship after nine months of talks.
According to a recent news article published in the AP News,EU and UK near Brexit trade deal.
What does the sources say in both sides?
Sources on both sides said the long and difficult negotiations were in their final stretch as negotiators went into another night, living off a stack of pizzas delivered to EU headquarters while they were combing through the fine print of a draft deal that runs to some 2,000 pages.
“Work will continue throughout the night,” said EU spokesman Eric Mamer.
British Prime Minister Boris Johnson held a Cabinet conference call to brief his senior ministers on the outlines of the deal, ahead of an announcement widely expected later Thursday.
Agreement before tentative deal
Johnson and EU Commission President Ursula von der Leyen are likely to bring news of an agreement before the tentative deal goes to the 27 EU capitals seeking unanimous approval and the blessing of the EU and British parliaments.
Customs check
No matter what happens, trade between Britain and the EU will face customs checks and some other barriers on Jan. 1, when the U.K. leaves the bloc’s single market and customs union.
A trade deal would avert the imposition of tariffs and duties that could cost both sides billions in trade and hundreds of thousands of jobs.
Britain withdrew from the EU on Jan. 31, and an economic transition period expires on Dec. 31.
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Source: AP News
