The most recent UK-EU talks on a trade deal to accommodate the needs of both parties post-Brexit are coming to a close, with no clear indicator of progress on either side.
The UK is able to ask for an extension to the transition period until the end of the month, which would allow them to remain in the single market and the customs union. The British government has previously ruled out any such extension.
The talks this week were intended to make progress prior to a key summit at the end of June, however, both sides of the discussion have been critical of one another’s stance.
Businesses who have been hit particularly hard by the pandemic have voiced their concerns regarding the UK’s remaining access to the EU single market, referring to a potential “cliff-edge” break if the country is to leave the EU without a replacement deal.
Over the past four days, representatives of both the EU and the UK have discussed measures for the latter’s departure. Michel Barnier, the chief EU negotiator, has said the UK is backtracking on the previously agreed commitments. He added that the EU will not sign a deal "at any cost".
No. 10 have accused the EU of making “unbalanced” demands which would serve to bind the UK to EU laws. The two are also unable to agree on a fisheries policy, with the EU continuing to demand access to British waters.
Both the UK and the EU are required to reach a free-trade deal by the end of the year, else risk engaging in business with tariffs, quotas or other such barriers.
At present, the transition period will end on 31 December.
