As transition period nears end, where do UK, EU currently stand on Brexit talks?
The 27-member bloc has been demanding access to UK fishing waters but the British government has called it incompatible with Britain’s future status as an independent coastal state.
Britain and the European Union has not been able to arrive at a post-Brexit agreement and the crunch times is fast approaching for the UK’s final departure from the bloc. The UK exited the EU on January 31 but it has been following bloc’s rules during the ongoing transition period of 11 months. The two sides haven’t been able to resolve the differences over access to fishing waters and state aid to failing companies.
What are the sticking points?
The 27-member bloc has been demanding access to UK fishing waters but the British government has called it incompatible with Britain’s future status as an independent coastal state. The EU has also expressed displeasure over the internal market bill published by the British government in September. On the other hand, the UK government tabled the controversial bill, calling it an “insurance policy” for no-deal Brexit.
Impact of no-deal Brexit
In case of a no-deal Brexit, the UK will not be able to avail the benefit of EU’s single market and customs union, leaving it with no choice but to trade with the bloc on terms similar to non-European markets. Britain will face tariffs and border checks on its exports to the EU and in response, the UK could also impose tariffs on imports from the trading bloc, resulting into increased price of imported goods.
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On Monday, trade talks began in Brussels but sticking points of the deal remain in place. Before the latest round of negotiations kicked off, Britain’s chief negotiator David Frost stressed that the government is working to get a deal, but stressed that the deal should be compatible with UK’s sovereignty. He added that the deal should let the UK take back control of its laws, trade, and waters.
“That has been our consistent position from the start and I will not be changing it,” he tweeted.
Frost hinted at some progress in a “positive direction”, adding that both sides largely have common draft treaty texts even though there has not been an agreement on significant elements. He reiterated that people and businesses must prepare for the change that will be introduced on December 31.
