UK EU Trade Talks Could Take Place Before Final Divorce Terms Agreed

The European Union is ready to talk to Britain on a future free trade deal before the two sides agree final terms on Brexit, draft EU negotiating guidelines issued on Friday show.

As part of a “phased approach”, Britain would just have to show “sufficient progress” on its divorce settlement in a first phase of negotiations and EU states could release a lock and agree to launch trade talks in a second phase.

But that concession to Theresa May two days after she triggered a two-year countdown to withdrawal was accompanied by elements in the draft circulated by EU summit chair Donald Tusk that the British prime minister may find less palatable.

Reuters

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Craig Erlam

Craig Erlam

Senior Currency Analyst at OANDA
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the Wall Street Journal and The Telegraph, and he also appears regularly as a guest commentator on networks including Sky News, Bloomberg, CNBC and BBC. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.