Brexit Trade Talks: UK and EU to ‘Go the Extra Mile ‘ to Agree on a Deal

In a coordinated declaration, European commission President Ursula von der Leyen said it was responsible at the moment to go the extra mile with the post-Brexit talks. At the course of the call, both leaders reviewed crucial unsettled issues.

During the week, both sides had said to set Sunday to be the deadline to conclude whether to continue with the post-Brexit talks, with the United Kingdom ready to exit European Union rules at month-end.

Both leaders accepted to tell negotiations to carry on the post-Brexit talks in Brussels to see whether an agreement can even at this late stage be reached.

How long will these talks last? 

There isn’t any specified period stated to bring an end to the talks, but the final deadline is the 31st of December, and any deal that occurs before then must be given time for the UK and European parliaments to vote in or out.

Mrs von der Leyen said Sunday’s call with Mr. Johnson has been constructive and useful But Mrs. Borris Johnson recounted his words from during the week that there might be a no-deal scenario and it was most likely.

The United Kingdom and European Union have been on with the post-Brexit trade talks since March. They are striving to attain one before the looming transition period end on the 31st of December, which will result in both sides resolving to trade World Trading Organization (WTO) rules.

What is the effect of a No Trade deal?

If the post-Brexit talks end without a trade deal, tariffs and charges between goods and commodities that are being traded between both sides could be initiated, and as an effect, prices on certain products may increase.

Mrs. Ursula von der Leyen says Brexit negotiations and talks will continue. Reading out the coordinated declaration, Mrs von der Leyen said, ” Despite the exhaustion after almost a year of negotiations, even though deadlines have been missed over and over, we think it is a response at this point to go the extra mile”. 

Also, one of the key leaders participating in the negotiations, Mr. Boris Johnson said where there’s life, there is hope, and that the UK is very much in support of the negotiations. It’s ready to give up on the post-Brexit talks.

He further explains that “I’ve got to repeat the most likely thing now, of course, that we have to get ready for WTO terms”.

He clearly expressed that, the post-Brexit talks aren’t without some serious and very difficult issues that bridge a gap between the UK and the EU, and it’s on both sides best choice to get ready to trade on World Trade Organization (WTO) terms.