UPDATE: UK Will Not Accept "Unbalanced" EU Trade Deal Demands

(Alliance News) - The European Union must recognise that the UK will not sign up to the ...

Alliance News 1 June, 2020 | 3:44PM
Email Form

(Alliance News) - The European Union must recognise that the UK will not sign up to the conditions it is seeking as part of a proposed trade deal, Downing Street said.

With the fourth round of talks in an increasingly fractious set of negotiations beginning on Tuesday, Number 10 accused Brussels of insisting on an "unbalanced" set of demands.

Time is running short to make progress on a trade deal ahead of Boris Johnson attending a high-level summit later this month which could be make or break for the process.

The EU's Chief Negotiator Michel Barnier used a Sunday Times interview to accuse the UK of failing to meet commitments agreed with Brussels.

But the prime minister's official spokesman accused the EU of insisting on restrictions on the UK's freedom to diverge from Brussels rules which were not set out in the joint political declaration.

One of the major issues is the "level playing field" which is aimed at preventing the UK from undercutting EU standards on issues including workers' rights, environmental protection and state subsidies.

The prime minister's official spokesman said: "The political declaration sets out the potential scope of the future relationship. Both we and the EU signed up to it.

"Any agreement based on it has to be balanced and represent a balance of benefits to both sides.

"In relation to the level-playing field the EU has insisted on including a set of novel and unbalanced proposals which would bind the UK to EU law or standards or impose control over our domestic legal regimes.

"These proposals are unprecedented in free trade agreements and not set out in the political declaration.

"As soon as the EU recognises that we will not conclude an agreement on that basis, we will be able to make progress."

Despite a process described by some insiders as "tetchy" and a public exchange of letters between Barnier and his UK counterpart David Frost, Downing Street insisted progress could be made.

"We hope this latest round is constructive and we hope that it will keep the process on track ahead of the high-level meeting later this month."

source: PA

Copyright 2020 Alliance News Limited. All Rights Reserved.

Email Form

About Author

Alliance News

Alliance News provides Morningstar with continuously updating coverage of news affecting listed companies.

Audience Confirmation

By clicking 'accept' I acknowledge that this website uses cookies and other technologies to tailor my experience and understand how I and other visitors use our site. See 'Cookie Consent' for more detail.

  • Other Morningstar Websites
© Copyright 2020 Morningstar, Inc. All rights reserved.

Terms of Use        Privacy Policy        Cookies