EU and UK Target New Trade Deals by Summer

EU and UK Target New Trade Deals by Summer

The European Union and Britain are planning to renegotiate their relationship quickly. Both sides agree to hold a summit with EU Commission President Ursula von der Leyen and British Prime Minister Keir Starmer before the UK parliament’s summer break in July, according to reports in the “Handelsblatt” (Friday edition) citing several insiders.

By that date, the negotiating teams are expected to present concrete outcomes on new agreements. Priority areas include the emissions trading system (ETS), the electricity market, food and agricultural safety standards (SPS), and defense cooperation. EU sources say the timetable is “ambitious but achievable”.

Brussels and London had already pledged to move closer in a summit in May of last year, and this year’s review of the 2021 post‑Brexit agreement opens a window to adjust disputed points.

To increase pressure on their teams, EU trade commissioner Maros Sefcovic and UK European affairs minister Nick Thomas‑Symonds have agreed to meet alternately every two weeks in London and Brussels until the planned summit. Their next meeting is scheduled for Monday in Brussels.