EU says EU-UK trade talks face 'last attempt' to fix fish

BRUSSELS (AP) — The European Union's chief negotiator said Friday that the bloc and the United Kingdom are starting a “last attempt" to clinch a post-Brexit trade deal, with EU fishing rights in British waters the most notable remaining obstacle to avoid a chaotic and costly changeover on New Year.

Michel Barnier told the EU parliament he “can't say what will come out during this home straight of the negotiations," which have already come a long way in nine months of talks. He called it “a very serious and somber situation" with the jobs of hundreds of thousands of people at stake.

The EU parliament has set a Sunday night deadline on the talks since it still will have to approve any deal ahead of year-end, when a transition period following the Jan. 31 departure of Britain from the bloc will expire.

“It's the moment of truth," said Barnier. “We have very little time remaining — just a few hours."

A failure to reach a post-Brexit deal would lead to more chaos on the borders at the start of 2021 as new tariffs would add to other impediments to trade that are enacted by both sides. The talks have got bogged down on two main issues over the past days — the EU’s access to U.K. fishing waters and assurances of fair competition between businesses.

“We have reached the hard nuts to crack,” said Barnier.

He said the EU understood and respected the U.K. desire to rule its own waves, but said that “a credible period of adjustment” had to be given, if EU boats are to be kicked out of British waters despite centuries of tradition of sharing them.

On top of that, the more London denies access to its waters, the more the EU can impose duties and tariffs.

“The European Union also has to maintain its sovereign right to react or to compensate,” Barnier...