Britain and the EU make final push for post-Brexit trade deal

The U.K. government believes “significant differences” still remain with the EU, as the two sides make a final push to clinch a post-Brexit trade deal. Talks are ongoing in Brussels on Monday afternoon, but both sides remain divided over three issues: fisheries, competition rules and governance of their potential deal. They have been stuck on these three areas since early on in the summer.

Media reports over the weekend pointed to a compromise over fishing rights, but at a meeting on Monday morning, the EU’s chief negotiator Michel Barnier denied that was the case. Barnier told EU ambassadors that a deal was still possible, but he could not guarantee it would happen on Monday, an EU source, who did not want to be named due to the sensitivity of the talks, told CNBC.

A spokesperson for the U.K. government confirmed there had been no compromise on the three outstanding matters, according to Reuters. The same spokesperson said that time is in “very short supply” with the U.K. ready to negotiate until the very last possible moment. Sterling fell sharply against the U.S. dollar on Monday morning, amid escalating fears that negotiators will fail to reach a deal. The U.K. currency traded at $1.3230 during morning deals, down 1.5% for the session.

Britain and the EU make final push for post-Brexit trade deal, CNBC, Dec 7