In January 2020, the United Kingdom left the European Union. Still, it decided to maintain the existing regulations and standards until the end of 2020. This move was taken to ensure that the country gets the required time to construct new agreements of trade. In three weeks, this transition period is about to end and the experts across the country are worried that the government will not have reached an agreement with the EU until then.
At 8 p.m. local time on Wednesday, Johnson has a dinner meeting scheduled with the President of the European Union Ursula von der Leyen. This meet will be marking an attempt to seek political answers for the three problems arising in the trade talks – arbitration, rules of competition, and fisheries. Since the first phase of summer, the negotiators on both sides were stuck on the mentioned points.
On Tuesday, the spokesperson of the European Commission and the executive arm of the EU said that the meeting will try to lift the impasses in the negotiation so that the talks could progress in a positive direction after the dinner on Wednesday.
These talks are supposed to be very difficult because, for the first time in the history of the European Union, both sides of the party are decided on bending the existing set of rules. Until today, the new trade deals resulted in the harmonization of labor, food, and similar standards.
The EU aims to make sure that the market does not get undermined because of the departure of the United States from the political arena. The United Kingdom, at the same time, wants complete power over the regulations and policies that the country wants to follow. To find a common ground between these two decisions, one or both sides to compromise.
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