July 24, 2020 — British and European Union negotiators failed to agree on underlying principles in the latest round of talks on post-Brexit trade between the bloc and its one-time member, again raising concerns about far-reaching economic damage if no deal is reached by the end of the year.
In comments delivered after the talks ended Thursday, chief U.K. negotiator David Frost said it was clear the two sides wouldn’t meet their goal of reaching an understanding on “the principles underlying any agreement” this month.
“By its current refusal to commit to conditions of open and fair competition and to a balanced agreement on fisheries, the U.K. makes a trade agreement, at this point, unlikely,″ Barnier said at a press conference in London.
Britain is seeking a free-trade pact similar to one the EU recently negotiated with Canada. The EU wants to ensure both sides have similar rules on a wide range of issues, including workers’ rights, the environment and government subsidies, before it is willing to discuss such an agreement.
Britain also wants to regain control of fishing in its territorial waters, which have been governed by EU rules for more than 40 years. Foreign boats account for about 60% of the fish caught in U.K. waters.
Read the full story from the Associated Press at The New York Times