Michel Barnier lays out European Union terms for fishing deal with UK

Daniel Fowler
February 5, 2020

However, when asked about the government's stance on allowing genetically modified food into the United Kingdom after Brexit, a spokesperson for Number 10 pointed to Johnson's first speech as prime minister a year ago.

Mr. Farage said he intends to continue to chair the Brexit Party and act as an "insurance policy" if Prime Minister Boris Johnson does not keep his promises. In a speech to business leaders and worldwide diplomats in London, Johnson plans to say "we want a free trade agreement", but not at any cost.

"It is like the glorious revolution that preceded the events chronicled above".

Neil Wilson, chief market analyst at Markets.com, said: "The way the two sides have come out, traders are starting to consider no-deal risks again".

The prime minister used a speech in Greenwich, south-east London, to stress his commitment to free trade - and signal his determination to secure an arrangement with Brussels along the lines of that agreed between the European Union and Canada.

Ranko Berich, head of market analysis at Monex Europe, added: "Today's sterling price action has a feel of groundhog day: signs of tension in EU-UK trade negotiations have caused the pound to drop some 1 per cent today".

The UK feels the European Union is hugely overcooking its demands, particularly on state aid, with some member states now also hinting they want the UK to follow European Union rules on environment and carbon taxes too. "We are not leaving the EU to undermine European standards - we will not engage in any kind of dumping", he said.

Barnier underscored the difficulties of the trade negotiations with Britain when he highlighted the small but emblematic fisheries industry, which was a key issue in the U.K.'s protracted Brexit divorce deal. CETA makes no mention of the EU Court of Justice.

LDS Church transfers missionaries out of Hong Kong due to coronavirus concerns
Most of the reassigned missionaries will be allowed to go home, too, before being deployed to a new location. Among Chinese carriers, Shandong Airlines and Air China have suspended their flights to India.

The prime minister will use a speech in London later to call for a Canada-style free trade agreement - and threaten to walk away if one can not be struck.

BORIS JOHNSON is on a collision course with Brussels over trade after setting out a competing vision for Britain's future relationship with the bloc.

Johnson insisted that the UK's food rules would be "governed by science" and dismissed fears that American food products could be damaging to public health as "mumbo-jumbo".

Despite many economists' predictions of problems that may arise as a result of a "bare-bones" deal, others are more optimistic.

Barnier insisted the European Union was prepared to offer an ambitious trade pact, taking account of the "exceptional" circumstances of Brexit, which comes with strings attached.

Mr Johnson said he wanted a "suite of agreements" covering substantially all trade; an agreement on fisheries; cooperation in the area of internal security; and technical agreements covering aviation and civil nuclear cooperation.

Those include a zero tariff zero quota free trade arrangement, preservation of the EU's Single Market and its "four freedoms", respect for the UK's ability to pursue an independent trade policy, and some ambiguous (see below) wording about ensuring fair competition.

In Brussels, Barnier unveiled the EU's draft negotiating mandate and said that negotiations can begin "immediately" once the mandate is approved by the EU Council at a special summit on 20 February.

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