According to British media reports on the evening of December 4th local time, the negotiations on the British-Europe trade agreement have been suspended because the two sides still have “major differences” and do not meet the conditions for reaching a trade agreement.
It is reported that the differences between the UK and the EU on fair competition, fisheries and how to implement the new regulations remain difficult to bridge.
In a joint statement, EU negotiator Barnier and British negotiator Frost said that European Commission President von der Leyen and British Prime Minister Johnson will discuss the current situation on Saturday afternoon (December 5).
The BBC quoted analysis from government sources and said that the joint statement showed that the two sides were far apart and the trade negotiations were deadlocked.
The so-called “fair competition” refers to the issue of state subsidies and standards, which may seriously affect the competition between the two sides after the end of the transition period.
The EU is worried that the UK may reduce social and environmental standards and inject national funds into its own industries and become an economically weakly regulated economic rival, while the United Kingdom, which secede from the EU with the goal of “reclaim control”, wants the freedom to establish future economic policies.
In addition, the fishing industry is also a big stumbling block to agreement. Although the industry is only a small part of the European economy, it is symbolic for countries such as France.