EU and UK Struggling to Reach New Trade Deal Post-Brexit
As talks to reach a new trade agreement continue, the EU is accusing the UK of “cherry-picking” the scope of the future partnership, limiting it to areas that only interest the UK-side. In that vein, the EU points to the Kingdom’s “refusal to negotiate an agreement on security and defence matters”, reneging on prior Brexit agreements.
Membership to the European Union, which now includes 27 countries, means membership to free trade and shared currency with the other member countries. When the United Kingdom decided to exit the Union, they also decided to leave this free trade agreement.
As part of the Brexit Deal, the United Kingdom agreed to establish a new “Comprehensive Free Trade Agreement” with the European Union which would extend parameters such as zero tariffs and shared access to waterways for fisheries.
If a new deal is not reached by December 31st of this year, the UK would have to proceed without any trade deals intact.