“The EU’s offer on goods trade considerably reduces the practical value of the zero-tariff zero-quota aspiration we both share,” the UK said in a statement following the latest round of Brexit talks. However, the UK noted that significant differences of principle in other areas remain with the EU.
Additional takeaways
“Had full and constructive negotiating round on Brexit.”
“Limited progress was made in bridging the gaps between the UK and the EU.”
“Regret that the detail of the EU’s offer on goods trade falls well short of recent precedent in FTAs.”
“We will not make progress on the so-called level playing field.”
“We now need to move forward in a constructive fashion.”
“The EU’s mandate appears to require us to accept a continuance of the current quotas agreed under the common fisheries policy.”
“Progress only possible if the EU accepts the UK will have the right to control access to its waters at the end of this year.”
Market reaction
The UK’s FTSE 100 Index edged lower on these remarks and was last seen down 0.87% at 5,776 points.
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