EU: Ready to open trade talks with UK before Brexit

Reuters reports latest draft guidelines from the European Union (EU), noting that EU is ready to begin trade talks before Brexit.

Main Points:

Ready to open trade talks before Brexit as soon as sufficient progress on divorce terms are made

EU is willing to offer transition to a future relationship but must be limited in time and subject to enforcement

During transition, EU regulatory, budgetary, supervisory and enforcement instruments and structures will apply to UK

UK must respect all financial and legal commitments to EU, including contingent liabilities

Brexit cannot offer the same benefits as membership

EU/UK free trade deal cannot offer partial single market access and must prevent fiscal, social and environmental dumping