Prime Minister Boris Johnson on Tuesday provided the latest information on the Brexit trade agreement negotiations, saying that the UK was not hesitant to end post-Brexit trade negotiations without a deal. The statement was issued a day after Boris Johnson agreed to meet with the head of the European Commission as a last resort to break the deadlock.
Now more than 3 weeks before Britain completes the country's withdrawal from the European bloc, Johnson is scheduled to meet with European Commission chief Ursula von der Leyen this week after negotiators on both sides failed to close the gap in negotiations.
Both sides are still stuck in 3 major issues that cause concern over the worse prospects that both parties will go through with the trade agreement amounting to $ 1 trillion a year being weighed.
Even so, he did not hesitate to break the agreement but insisted that he would do his best to sign a trade agreement with the EU. If the tolerance given is unsatisfactory then the UK will proceed with the solution as Australia did which is not to enter into an independent agreement with the EU or in other words trade is done on the terms of the World Trade Organization.
On the other hand, French European Affairs Minister Clement Beaune said in a recent statement on Tuesday that in the fishing issue, there was no reason to give in to pressure from the UK.
Beaune also reiterated his earlier statement that France would use its veto power if a 'bad' deal was reached in these negotiations.
The pound sterling continued to depreciate against the US dollar with a decline of 0.15% to the 1.3358 exchange rate as of 9.40 p.m.
Market expectations have now been placed on PM Johnson who will meet European Commission President Ursula von der Leyen today in Brussels after they failed to reach an agreement while discussing by phone.
