The first round of face-to-face UK-EU trade talks are coming to an end, described as ‘constructive’ but with significant differences. The EU has also accused UK negotiators of approaching individual countries on a separate basis, warning that the bloc needs to remain united throughout the talk.
The next round of talks are expected to take place in two to three weeks. In the meantime, differences in approach have already emerged, with the EU preferring an overarching agreement covering all areas, while the UK team is seeking individual agreements on individualised areas. The EU argues that doing so will make ratification by national parliaments much more difficult.
The euro lost some of its gains against the pound yesterday, on a day with little in the way of data releases. This morning’s Italian retail sales have seen an increase year-on-year, but a decrease compared to last month – which could well continue with the impact of coronavirus.
