⁍ Failure to clinch a trade deal when Britain leaves a standstill transition period on Dec. 31 would sow chaos through supply chains.
⁍ Britain maintains there is no basis to resume discussions without a fundamental change in approach.
⁍ The European Commission said it was ready to negotiate though both sides would have to compromise.
– With less than two months to go until Britain is due to leave the European Union, the two sides are desperately trying to work out a deal that will keep the UK in the EU customs union after Brexit. British Prime Minister Boris Johnson broke off talks with the EU last week over demands for concessions from the bloc, but the EU has since offered to ramp up talks and open discussions on legal texts, Reuters reports. “My message: we should be making the most out of the little time left,” says EU negotiator Michel Barnier. “Our door remains open.” Britain is due to leave the EU Dec. 31 without a deal in place, and the EU has warned that if it doesn’t get a deal, there will be no transition period to smooth the process. A look at what’s happening:
Source: https://www.reuters.com/article/britain-eu/as-clock-ticks-eu-and-uk-tell-each-other-to-budge-on-brexit-idUSKBN2751KO