Brexit trade talks reach 'critical point', EU and UK agree to expanding 'further efforts'

On December 7, UK PM Boris Johnson’s administration said that the trade negotiations between the EU and the UK have reached a "critical point". With Boris Johnson, EU president Ursula von der Leyen, and key Brexit negotiators holding talks today, Johnson declared that the post-Brexit deal "entered the endgame".

The EU chief said that the negotiations had a "good progress" on issues related to Irish border arrangements. However, EU's chief negotiator, Michel Barnier reportedly called the situation "very gloomy" after he held a dialogue with bloc's national ambassadors. 

In their second phone call in 48 hours, the European Commission chief said that there was a deadlock in negotiations, adding, that the negotiators were still trying to get a feasible deal in place. The phone call between the two leaders lasted for about 90 minutes. 

Read: EU Negotiator Kicks Off Hectic Day For Final Brexit Deal

While either side abstained from releasing an official statement just yet, British media reports suggest that the EU chief negotiator Michel Barnier and his UK counterpart Lord Frost are still negotiating on key issues. The two sides agreed to "further effort" in order to reach a comprehensive deal before the transition period ends on December 31. 

Read: UK's Frost: 'working Very Hard' On Brexit Deal

Brexit deadlock

Britain exited the European Union on January 31, however, UK is yet to reach an agreement for post-Brexit trade with respect to fisheries activities, freedom of competition, handling of future relations, and police and judicial cooperation on criminal matters. Irish foreign minister Simon Coveney told RTE news that the talks for an agreement had hit a downbeat, both EU and UK had ramped up efforts to make progress in the negotiations as time is running out.

As per BBC reports, Extensive negotiations are needed in the field of governance and fisheries and the outcome is still uncertain. In earlier negotiations in London, none of the conditions of the agreement were met as European Commission informed in a statement. British officials dismissed negotiations as reaching "difficult points".

Meanwhile, France’s demands over fishing rights in British seas is being objected to by the UK, that aims at a Canada style free trade post-Brexit. In case of an absence of an agreement by 2020 year-end, UK stands compliant to World Trade Organisation terms that are likely to surge business tariffs once the transition period concluded. Tariffs will hit the UK’s deal governing almost $1 trillion of annual trade.

Read: UK's Chief Brexit Negotiator Frost Arrives In Brussels For Last-ditch Brexit Talks

Read: Boris Johnson, EU Chief Negotiators Seek To Break Brexit Impasse On Dec 7

(Image Credit: Twitter/Boris Johnson)