UK Intends Brexit Transition Period Deal in March

French message to corporate Japan: UK presence in EU is finished

In December the European Union declared that London had made sufficient progress on the Brexit divorce issues of the Irish border, money and protecting citizens' rights, but the government is perceived in Brussels to have made little advance since.

Britain's Brexit, Finance and Business Ministers displayed a united front on Friday with a letter seeking to reassure eurosceptics anxious over the country's path out of the European Union (EU).

U.S. President Donald Trump says he would take a "tougher" attitude toward Brexit negotiations than the approach now being used by British Prime Minister Theresa May.

To all intents and purposes, we have a new date for leaving the EU: Dec 31, 2020.

After EU ministers outlined their transition terms this afternoon, Nigel Farage said Brussels would be prepared to extend the period "indefinitely".

Mrs May's Brexit "inner circle" of senior ministers met in sub-committee on Monday morning to discuss how the transitional phase could work, including the UK's demand that it be free to negotiate trade deals with other countries during the period.

At the same time, however, European officials said last month that they seriously accepted their duty to pursue the best interests of the 27 remaining members and examined how existing relations in a number of areas could be changed to benefit the EU after Brexit.

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"It's very, very important", he said, that "if there are new laws that affect us, we have the means to resolve any issues during that period".

Davis also said there needed to be some mechanism for Britain to query new laws introduced during the transition period, which it would be duty-bound to follow, and that the future jurisdiction of regulators needed to be clarified.

Any indication that talks over transition could be drawn out will be bad news for business, which is keen to get the details pinned down as soon as possible, and certainly within the first-quarter deadline the government has set itself.

Alternatively, if the United Kingdom were to retain access to the single market through membership of the European Economic Area the loss would be just 2%. "Our partners have their own views on this", he added.

The ministers' joint letter also reaffirmed that as part of the transition, European Union citizens will continue to be able to move to Britain without restrictions, although a "registration scheme for new arrivals" will be introduced.

Euratom: The two sides have agreed that countries would take charge of nuclear waste generated on their territories, but the UK's future relationship with the nuclear body, which could involve the ECJ, is unresolved. "All that will be provided for in the withdrawal agreement that we reach with the European Union, which will have the status of a new worldwide treaty".

"The existing global agreements we are party to should continue to apply during this period".

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