Daily Management Review

It Could Walk Away From Brexit Trade Talks If Demand Not Made: UK


It Could Walk Away From Brexit Trade Talks If Demand Not Made: UK
The negotiating mandate for talks with the European Union that has been recently unveiled by the United Kingdom for the Brexit talks is reportedly not what Brussels wants in a deal. The UK has said that it could even walk away form the deal if "good progress" was not made in the negotiations of the two parties by June.
There is time till the end of the current year at hand for the UK to negotiate a deal with the EU over Brexit – which came into force in January this year. The deal is slated to cover a host of issues and arrangements ranging from trade to fishing rights to transport which will be used as a document of relationship between the two parties and will replace the 40 year old political and economic relations devised with the formation of the EU.
The UK government apparently has made its stance on the deal quite clear and seems to have put its self-determination over economic concerns even while accepting that British businesses will have to face new "frictions" in trade with the EU after the UK formally and completely goes out of the bloc.
The UK will get prepared for a hard Brexit – a complete exit of the EU without a deal, if there is no "good progress" in talks by June according to what the UK calls a "standard" free trade agreement or even on the "least controversial areas" of the talks, the UK has said.
"At the end of the transition period on the 31st of December, the United Kingdom will fully recover its economic and political independence," cabinet office minister Michael Gove told Parliament as he unveiled the mandate. "We want the best possible trading relationship with the EU, but in pursuit of a deal we will not trade away our sovereignty."
However, it is apparently clear that the negotiations between the UK and the EU could be set to be a battle of wills because the two sides have not even been able to agree on the format of talks that are slated to start next Monday.
Brussels had taken "note" of the mandate, said Michel Barnier, the EU's chief negotiator. “We will stick to all our prior commitments in the political declaration," he tweeted, referring to an outline agreement on future ties signed by both sides.
"We want an ambitious and fair partnership with the UK in the future."
Companies were "impatient for negotiations to begin in earnest", said the British Chambers of Commerce. "Businesses are pragmatic, but need the UK-EU negotiations to deliver clarity on the many practical, real-world details that will affect their day-to-day operations for years to come," Adam Marshall, its director-general, said.
One of the major sticking points of the negotiations on trade between the UK and the EU is the demand of a trade deal similar to the one between the EU and Canada made by the UK. 
That demand has been ruled out by the EU as it argued that a greater threat to the bloc's market is the UK because it is a neighbor of the bloc and because the EU does more business with Canada. The EU is concerned that the UK could undercut its market by lowering standards.