EU and UK edge closer to post-Brexit trade deal

Negotiators from the United Kingdom and the European Union edged tantalizingly close on Thursday to a post-Brexit trade deal, with sources claiming London had made significant concessions following similar moves from Brussels.

Reports in the Financial Times earlier in the week said the EU had given ground to facilitate roll-on, roll-off freight movements between Dover in the UK and the French port city of Calais in a future deal, and the bloc had reduced its demand for a high percentage of a product to be made locally in order to qualify for tariff-free trade.

Then, it was the UK's turn.

With the two sides still some way off on fishing rights in British waters, the "level playing field" through which state subsidies of enterprises will be limited, and an acceptable mechanism to resolve future trade disputes, London made concessions on EU fishing boats' access to UK waters.

Michel Barnier, the EU's chief negotiator, told ambassadors from the EU's 27 member nations on Wednesday that British Prime Minister Boris Johnson now wants EU fishing fleets to hand more than 60 percent of the value of the fish they catch. London had previously demanded 80 percent.

Barnier said the following 36 hours would determine whether a deal could be found to replace the trading relationship they had when the UK was a member of the bloc.

If they fail to find a deal by Dec 31, they will revert to World Trade Organization rules, something experts fear will lead to higher prices and shortages.

An unnamed senior EU diplomat told The Guardian newspaper:"Barnier said the coming hours were going to be decisive to which the response was, 'What's the rush?'Ambassadors for every country bordering the UK－11 all in all－raised concerns on the level playing field and suggested that he was at the edge of his negotiating mandate."

Barnier told the ambassadors that he will update them again on Friday.

Laura Kuenssberg, the BBC's political editor, said one ambassador told her an agreement could even be finalized by then.

Belgian Prime Minister Alexander De Croo described the situation during a news conference while visiting Paris as similar to "the last minutes of a football match".

But the BBC noted that, while both sides clearly still aspire to win, a breakthrough and a complete breakdown of talks remain possible.

David McAllister, a German member of the European Parliament and leader of its Brexit steering committee, tweeted that a deal, if found, would need to be ratified fast.

"We are very much aware that the work on level playing field and state aid has entered the final phase," he wrote.

EU leaders are slated to meet again on Dec 10. Ratification of a post-Brexit trade deal has not yet been added to the agenda.