The United Kingdom and the European Union (EU) warned this Monday, November 30, that the time to secure a Brexit trade deal is coming to an end, with negotiators still looking for a state aid deal. , surveillance and fishing to avoid a turbulent exit within a month, according to "Reuters".
On December 31, the United Kingdom leaves the orbit of the EU when the transition period from informal membership ends following the formal exit announced last January, and both sides are trying to secure an agreement to govern almost a trillion dollars ( 835 billion euros) in annual trade.
Boris Johnson, British Prime Minister, said that reaching an agreement would be "preferable", but warns that the United Kingdom would prosper in the same if it was not reached. For his part, George Eustice, the British Secretary of the Environment, underlined that “we are running out of time. This is the crucial week, we need to make progress, ”adding that if progress is made this week, negotiations could be extended.
After breaking several deadlines, negotiators are stuck mainly on issues such as fishing, state aid and how to resolve any future disputes. A trade agreement would not only safeguard trade, but would also reinforce peace in Northern Ireland controlled by the British, although there is almost certain to be some disturbance at the EU's busiest border points with the UK.
Failure to secure an agreement would pose a problem for the borders, scare the financial markets and interrupt the delicate supply chains that extend across Europe and beyond - at a time when the world is struggling with the vast economic cost brought about by the pandemic of Covid-19.