UK-EU trade talks risk reaching impasse again
UK-EU trade talks risk reaching impasse again

Not long ago, the trade agreement between the UK and the EU was among the news headlines. However, the coronavirus pandemic changed the situation and the world shifted its focus to more important events. Trade disputes seem to be less significant amid the news on the novel deadly virus. In the meantime, this acute problem remains unsolved and continues to have a serious impact on both the pound and the euro. Moreover, the recovery pace of both economies directly depends on this agreement. The latest developments in trade relations between London and Brussels turned out to be rather pessimistic. Few days ago, the European Union published a new version of the draft deal. However, the British side found it unworthy and accused Brussels of offering a "relatively low-quality" trade agreement. "What is on offer is not a fair free-trade relationship between close economic partners, but a relatively low-quality trade agreement coming with unprecedented EU oversight of our laws and institutions," chief British negotiator David Frost said. In general, according to Frost, the parties have not made strides in addressing key contentious issues, and talks are likely to once again reach an impasse. Therefore, given the coronavirus pandemic, the parties will hardly come to an understanding in the nearest future.

Published: 2020-05-27 10:24:49 UTC
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