Brexit: A pragmatic trade agreement? Time is tight but deal remains possible

Abstract

The negotiating mandates for the next round of Brexit talks are on the table. The European Union is making talks on a deal regulating EU/UK trade from 1 January 2021 conditional on reaching a fisheries agreement first - originally by July, although the precise timetable may be derailed by the corona crisis. The negotiating mandates diverge in significant respects: The European Union wants to safeguard its Single Market with its strong, shared regulation. That is also reflected in its recently published draft proposal for a trade deal. The United Kingdom seeks liberation from EU trade rules. These differences are substantial, and significant compromises will be needed if the talks are to be brought to a successful conclusion. Intelligent prioritisation and structuring could allow resolution of certain details to be postponed until a later date.