EU envoys hope for a Brexit trade deal in days, UK sees progress

A British minister said he believed “good progress” was being made at talks but cautioned that London would not sign up to a deal that was not in its interest.

EU envoys hope for a Brexit trade deal in days, UK sees progress

Britain leaves the EU’s orbit on Dec. 31, when a transition period of informal membership ends following its official departure last January, and the sides are trying to secure a deal to govern nearly $1 trillion in annual trade.

The suggestion by several officials in the EU that the negotiators will soon review overall progress is widely seen as a positive sign after weeks of impasse over three main issues -- fisheries, economic fair play and settling disputes.

Three EU diplomats said they hoped the negotiators - the EU’s Michel Barnier and Britain’s David Frost - could seal a deal as soon as on Friday or at the weekend, signalling the next 24-48 hours will be crucial.

The negotiators are seeking a deal to uphold free trade between Britain and the 27-nation EU from the start of 2021, but there have been several false dawns in recent months when talk of progress failed to lead to a deal.

Failure to secure a deal would clog borders, worry financial markets and disrupt supply chains as the world tries to cope with the vast economic cost of the COVID-19 pandemic.

“It’s the time to hold our nerve and trust (Barnier). And I believe if we do that, there’s a good chance that we can get a deal across the line in the next few days,” Irish Foreign Minister Simon Coveney told Ireland’s Newstalk Radio.

“There will be no further extensions. There will be no extra time.”