There are only five weeks left before the deadline for the UK withdrawal from the European Union which is 31 December as a whole.
Lately there have been reports that both sides stated the Brexit agreement between the EU and the UK has shown significant progress. But news on Friday began to show the opposite statement when both sides said there were still significant differences over the Brexit trade deal.
At the same time, the EU's chief negotiator has stated his readiness to go to London as a last resort to avoid a 'no deal' situation. So far, the disparity gap still revolves around 3 main issues namely, fisheries, state aid and trade regulations.
According to UK Prime Minister Boris Johnson, there is clearly a big difference and it is very important to resolve it as soon as possible.
On 31 January, the UK officially withdrew from the European Union (EU). However, the UK is still subject to EU rules and regulations until the end of the year. An additional 11 months from January is to allow both parties to plan and negotiate a post-Brexit agreement.
Such an agreement would shape the UK’s future network with its European neighbors. Among the main concerns in trade and immigration negotiations. Basically these trade negotiations will determine the rules of UK-EU relations starting 1 January 2021.
The GBP depreciated against the US dollar by 0.16% to the 1.3334 exchange rate as of 9.50 p.m.
