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EU-UK trade negotiations on future relationship planned for today

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EU-UK trade negotiations on future relationship planned for today

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Photo: Oliver Hoslet/Pool via REUTERS

Representatives from the UK and EU will meet today in Brussels to begin the first of several negotiating rounds regarding a comprehensive trade deal.

The series of small group meetings, which will focus on specialised topics of contention and continue into September, is intended to invigorate talks on a broad free trade agreement (FTA), which must be passed before December 31.

Though UK PM Boris Johnson has forecast a July finalisation of the agreement, both London and Brussels are reluctant to concede on key issues, namely economic and business competition regulations. After a leading British negotiator dismissed EU demands regarding fishing territories as “unrealistic”, Johnson threatened to abandon talks and opt for a set of sector-specific trade agreements similar to Australia’s arrangement with the bloc.

Expect the EU to stand firm on level playing field provisions after July 1, when export-heavy Germany assumes the EU Council presidency. Berlin will likely seek to prevent London from employing tactics like heavy state aid to create unfair business conditions for EU exporters.

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While this first negotiating round represents a significant step towards sincere discussion, the extent to which FTA progress will be attained remains opaque, but a clearer picture should emerge by the end of July as talks continue.

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