Britain And The European Union Resumed Negotiations

Britain And The European Union Resumed Negotiations

Britain and the European Union resumed negotiations on a free trade agreement after Brexit on Monday. Both sides have still not been able to overcome the biggest obstacles, even though their time is running out. The Union's chief negotiator, Michel Barnier, arrived in London late Sunday night for another round of talks with his British counterpart, David Frost. Britain formally withdrew from the bloc in January this year. However, according to the so-called divorce agreement, there is a transitional period until 31 December 2020, during which London continues to be governed by EU rules. However, both parties need to reach an agreement on future trade by the end of the year, otherwise the rules of the World Trade Organization will apply from 1 January. This means the introduction of customs duties and administrative barriers.