Trade

Michel Barnier lays out EUs Brexit trade talks mandate

The European Union is willing to negotiate a highly ambitious trade deal with the U.K., but “this exceptional offer is conditional,” according to the EUs Brexit chief negotiator Michel Barnier.

Barnier Monday laid out the draft negotiating directives for the future relationship negotiations with the U.K. for journalists. The European Union is willing to negotiate an agreement that includes “zero tariffs and zero quota on all goods entering the single market,” he said. Brussels also wants an ambitious agreement in services “with wide sectoral coverage” that includes “digital trade, intellectual property and access to our respective procurement markets.”

But certain conditions must be met by London, Barnier warned. “We are ready to offer all this even though we know that there will be strong competition between the U.K., our immediate neighbor, and the EU. Competition is normal. But because of our geographical proximity and economic interdependence, our draft mandate also makes clear that this exceptional offer is conditional on at least two things.”

The first is a level playing field over the long term.Read More – Source