UK, EU fail to reach deal, trade talks paused

By Elizabeth Piper and Gabriela Baczynska LONDON/BRUSSELS (Reuters) - Britain and the European Union failed on Friday to secure a trade agreement, saying talks would be paused so negotiators could talk to politicians to get better guidance on where to go next. With less than four weeks left until Britain leaves the EU's orbit on Dec. 31, both sides have said the talks are stuck on three areas, with each calling for the other to compromise to secure a deal governing almost $1 trillion of annual trade

Reuters December 05, 2020 02:05:08 IST
UK, EU fail to reach deal, trade talks paused

UK EU fail to reach deal trade talks paused

By Elizabeth Piper and Gabriela Baczynska

LONDON/BRUSSELS (Reuters) - Britain and the European Union failed on Friday to secure a trade agreement, saying talks would be paused so negotiators could talk to politicians to get better guidance on where to go next.

With less than four weeks left until Britain leaves the EU's orbit on Dec. 31, both sides have said the talks are stuck on three areas, with each calling for the other to compromise to secure a deal governing almost $1 trillion of annual trade.

"After one week of intense negotiations in London, the two chief negotiators agreed today that the conditions for an agreement are not met, due to significant divergences on level playing field, governance and fisheries," they said in a statement.

"On this basis, they agreed to pause in order to brief their principals on the state of play of the negotiations. (European Commission) President (Ursula) von der Leyen and Prime Minister (Boris) Johnson will discuss the state of play tomorrow afternoon."

Earlier on Friday, there were contradictory reports of how far the talks had progressed, with some EU officials saying they were on the brink of agreement while British officials said the process was "very difficult".

Britain formally left the EU on Jan. 31 but has been in a transition period since then under which rules on trade, travel and business remain unchanged. From the end of the year, it will be treated by Brussels as a third country.

If the two sides fail to reach a deal, the five-year Brexit divorce will end in disorder just as Europe grapples with the vast economic cost of the COVID-19 outbreak.

A no-deal exit is the nightmare scenario for businesses and investors, who say it would snarl borders, spook financial markets and sow chaos through supply chains that stretch across Europe and beyond.

(Reporting by David Milliken, Guy Faulconbridge, Kate Holton, Elizabeth Piper in London, Dominique Vidalon in Paris, and John Chalmers and Gabriela Baczynska in Brussels; Editing by Andrew Heavens)

This story has not been edited by Firstpost staff and is generated by auto-feed.

Updated Date:

TAGS:

Find latest and upcoming tech gadgets online on Tech2 Gadgets. Get technology news, gadgets reviews & ratings. Popular gadgets including laptop, tablet and mobile specifications, features, prices, comparison.

also read

More than 20 killed in Mali airstrike on wedding ceremony - health worker
World

More than 20 killed in Mali airstrike on wedding ceremony - health worker

DAKAR (Reuters) - More than 20 people, including children, were killed in an airstrike during a wedding ceremony in central Mali on Sunday, a health worker with knowledge of the attack told Reuters. (Reporting By Edward McAllister; Editing by Aaron Ross)

Bleak start to new year for Britain as it enters third lockdown
World

Bleak start to new year for Britain as it enters third lockdown

By Estelle Shirbon and Natalie Thomas LONDON (Reuters) - Britain began its third COVID-19 lockdown on Tuesday with the government calling for one last major national effort to defeat the spread of a virus that has infected an estimated one in 50 citizens before mass vaccinations turn the tide. Finance minister Rishi Sunak announced a new package of business grants worth 4.6 billion pounds ($6.2 billion) to help keep people in jobs and firms afloat until measures are relaxed gradually, at the earliest from mid-February but likely later

France cranks up COVID-19 vaccine rollout to deliver shots faster
World

France cranks up COVID-19 vaccine rollout to deliver shots faster

By Dominique Vidalon and Sudip Kar-Gupta PARIS (Reuters) - France is stepping up its COVID-19 vaccine rollout by widening the first target group to include more health workers and simplifying a cumbersome process to deliver shots more quickly, Health Minister Olivier Veran said on Tuesday. France's inoculation campaign got off to a slow start, hampered in part by red tape and President Emmanuel Macron's decision to tread warily in one of the world's most vaccine-sceptical countries. France has fallen behind neighbours such as Britain and Germany, and the president is now demanding the vaccination programme be expedited