The transition period of brexit will end at the end of the year. Whether the UK and the EU can reach a trade agreement within this period is of great concern. British and European union representatives said on the 4th after two weeks of talks that the two sides still have great differences on some core issues.
David Frost, chief representative of brexit negotiations, said on social media that the talks had made progress, but "there are still great differences between the two sides on some core issues. We will continue to work to find a solution based on full respect for British sovereignty. ".
"Despite the EU's efforts to find a solution, there are still serious differences in terms of fair competition environment, compliance management and fisheries," EU chief negotiator for brexit said on social media. The EU is ready for every possible scenario. "
British Prime Minister Johnson said on September 7 that October 15 was the deadline for Britain to reach a trade agreement with the European Union. After the EU leaders met in Brussels on October 15, the British side once said that the EU Summit marked the end of the negotiations between the two sides. If the EU does not fundamentally change its position, there is no need for further talks. The UK agreed to restart talks on the 22nd after the European Union stated that it was necessary to "compromise between the two sides" and "would like to discuss it on the basis of the legal text of the agreement".
Analysts believe that the two sides need to reach an agreement by mid November to ensure that there is enough time to go through their respective legal procedures.
Britain officially "left Europe" on January 31 this year, and then entered an 11 month transitional period. If the UK and Europe fail to reach a trade agreement during the transitional period, the bilateral trade will return to the framework of the World Trade Organization from 2021, and re implement border inspection and tariff arrangements.