The UK and the European Union reported on Monday that the door to reach an agreement was still open with both sides expressing a determination to compromise on finding ways to establish bilateral trade between neighboring countries.
The latest is just over two months before the UK ends its status quo transition arrangements with the EU. Both parties are still facing a deadlock to reach an agreement in a trade agreement.
The development of the Brexit deal lately has changed frequently in a short period of time. Expectations for negotiations to reach an agreement initially then turned negative when there was a signal that UK Prime Minister Boris Johnson signaled for Brexit ‘no-deal’ options last week.
The door to post-Brexit trade talks between Britain and the European Union (EU) is still open, only if it focuses on the important things. On that basis, British Cabinet Minister Michael Gove said the EU needs to expedite negotiations and offer better terms.
European Commission Vice President Maros Sefcovic today stressed the fact that the EU still wants a trade agreement with the UK but it must be fair. At the same time, the European Union is ready to work until the last minute until a fair deal can be reached.
The ‘no-deal’ situation could have an impact on the UK economy by causing damage to almost every sector of the economy such as the impact left by the Covid-19 outbreak.
The GBP showed a strengthening against the US dollar of 0.68% to the exchange rate of 1.3001 as of 9.30 p.m
