The U.K. and European Union have made only limited progress toward a trade deal and the onus is on the British to move, the bloc’s chief negotiator Michel Barnier told a meeting of EU European affairs ministers.
Not enough progress has been made yet for the negotiations to enter the so-called tunnel, the intensive final phase of negotiations, Barnier said, according to officials close to the meeting in Luxembourg on Tuesday.
In a message on Twitter, Barnier said the EU will “continue to work for a fair deal in the coming days and weeks.”
Talks between the two sides are continuing in Brussels, with time running out before Thursday, when Prime Minister Boris Johnson has said he will walk away unless he is clear that a deal is likely.
“We are well prepared for both scenarios, everybody should know that,” German European Affairs Minister Michael Roth told reporters before the meeting started. “No-deal is the worst case scenario, not just for the European Union but also for the U.K., but we are prepared for that.”
Barnier told the meeting movement is still needed on fisheries, the U.K.’s state aid policy and enforcement of any deal.
“Frankly speaking, we are at a critical stage of the negotiations,” Roth said. “We are extremely under pressure, time is running out, and we expect substantial progress by our friends in the U.K. in key areas.”
Today, the Alliance for Chemical Distribution (ACD) welcomed 666 members and industry leaders for its highly anticipated 2024 Annual Meeting held in La Quinta, California.
View ArticleThe National Retail Federation still expects steady sales growth for the winter holiday season despite contradictions in the latest economic indicators, NRF Chief Economist Jack Kleinhenz said today.
View ArticleDonald Trump’s victory in the US Presidential Election is ‘a step in the wrong direction’ for international trade as importers fear another spike in ocean container shipping freight rates.
View ArticleIndustry updates and weekly newsletter direct to your inbox!