UK and EU close to Christmas Brexit deal

The United Kingdom and the European Union (EU) are expected to announce the agreement of the UK leaving the EU (Brexit) on Christmas night on December 24, British and American press, citing officials, said.

UK and EU close to Christmas Brexit deal

This event is expected to end the process of months of intense negotiations for the “divorce” between the UK and the EU, ensuring a smooth Brexit process with mutual interests kept to the maximum extent possible. .

After resolving a number of outstanding issues around fair competition, British and EU negotiators are still debating over EU fishing rights in British waters. Working on Christmas Eve (midnight December 24, Brussels time), to secure the adoption of an interim post-Brexit deal.

Sources on both sides revealed lingering difficulties in the final stages of the deal, which saw a stack of pizzas delivered to EU headquarters as they assessed the roughly 2,000-page deal.

EU spokesman Eric Mamer said work would continue through the night, while British Prime Minister Boris Johnson held a cabinet meeting to inform senior ministers of the deal, which is expected to be announced on Tuesday. the end of December 24 (Brussels time).

According to the roadmap, Prime Minister Johnson and EU Commission President Ursula von der Leyen will announce the agreement before this tentative agreement is moved to the 27 capitals of the remaining EU members, pending unanimous approval. as well as the support of the EU and UK parliaments.

According to AP, so far regardless of this deal, the trade relationship between the UK and the EU will face obstacles from customs and other barriers after January 1, 2021. The UK will leave the EU’s “single market” and “tariff union”, trade facilitation mechanisms long ago when London was a member.

A trade deal between the UK and the EU would therefore prevent the imposition of tariffs and other taxes, reducing the risk of costing both billions of dollars in trade as well as hundreds of thousands of jobs.

In the past, British Prime Minister Johnson has always insisted that the UK will “prosperous” even if no trade deal is reached and that the UK will trade with the EU under the rules of the World Trade Organization (WTO) from January 1. -first.

In addition to the difficult negotiation process with the EU, the British Government is also trying to expand and tighten trade relations with countries outside the bloc. According to the official website of the British Government, the UK has closed a trade agreement with 58 countries, equivalent to 198 billion pounds (about 265 billion USD) in annual trade value. These agreements account for 96% of trade with countries outside the EU.

Observers are now focusing their attention on the deal between the UK and the US. On December 17, US Trade Representative Robert Lighthizer said the US and UK were “very likely” to reach a free trade deal, and called on British officials to make concessions on their tough stance on a trade deal. issues such as food safety.

In an interview with the BBC, Mr Lighthizer said the US presidential election in November had delayed the negotiation process. Now both sides have “a short period of time” for negotiators to finalize the deal, before President-elect Joe Biden takes office on January 20. “This can happen. Both sides need to compromise,” he said.

In addition to bilateral agreements, the UK is also targeting international trade agreements, including the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

In December, the UK in turn signed the minutes to conclude trade agreement negotiations with Singapore and Vietnam. On December 15, Britain continued to sign a trade agreement with Mexico. British International Trade Secretary Elizabeth Truss announced that this is the seventh trade deal the UK has signed with a CPTPP member.

“This is an important step for the UK to join the CPTPP and I look forward to our application achieving the same results early next year… International trade will help us overcome the challenge of the virus. corona and bring economic growth to the whole UK,” Ms. Truss affirmed.