European Union leaders are expected to agree to extend talks with Britain to seek concessions on fisheries, fair competition and dispute resolution in a bid to arrive at a trade deal that preserves annual trade valued at an estimated $1 trillion.
Months of talks between the two sides have narrowed the gaps on issues from energy to welfare.
The three issues mentioned above are still blocking a deal, however, with increasing tensions in companies and markets as we cross British Prime Minister Boris Johnson’s October 15th deadline for an agreement.
The EU called on its chief negotiator to continue negotiations in the coming weeks, and also called on the UK to take the necessary steps to make the agreement possible.
The EU needs to reach an agreement by early November at the latest to allow time for ratification by its member states’ parliaments.