UK and EU Leaders Agree to Step Up Trade Deal Efforts Amid Signs of Potential Compromise

British Prime Minister Boris Johnson and French President Emmanuel Macron yesterday agreed to intensify efforts to secure a UK-EU trade deal, as signs emerged that the UK might be open to a compromise that includes the possibility of tariffs on UK goods if it fails to meet European regulatory standards. The two leaders met on the margins of events in London to commemorate the 80th anniversary of Charles de Gaulle's BBC radio appeal to France to resist the Nazi occupation. According to sources close to Johnson, he is willing to consider a new approach to break the stalemate in talks, which are set to resume on June 29.

Key Takeaways:

• The UK is considering a compromise that would see it retain its right to walk away from the EU's proposed regulatory "level playing field" in exchange for the EU's right to impose tariffs on UK goods.
• The idea, raised in The Spectator magazine, would give the EU the tools it needs to respond to any attempt by the UK to begin a regulatory "race to the bottom".
• EU officials are skeptical of the plan, arguing that it would amount to the UK reneging on its own negotiating red lines and embracing EU concepts of future governance that run counter to Britain's position.
• Michel Barnier, EU chief Brexit negotiator, has repeated that tariffs are no substitute for a level playing field, and EU officials are worried that the proposal could lead to a relationship based on constant disputes over regulatory standards.
• The UK and EU are also discussing the possibility of a transport corridor between the two sides, as well as the UK's 14-day quarantine system.
• French President Emmanuel Macron bestowed the Legion d'Honneur on the UK capital for its support to the Free French cause in the second world war during his visit.

Statistics:

• 14 days: The duration of Britain's quarantine system for visitors from the EU.
• 80th: The anniversary of Charles de Gaulle's BBC radio appeal to France to resist the Nazi occupation.
• June 29: The date when talks on a future UK-EU relationship are set to resume.

Sources:

• "UK and EU negotiators discuss possible compromise on Brexit trade deal" by George Parker and Laura Hughes, The Times
• "Boris Johnson and Emmanuel Macron agree to intensify Brexit trade talks" by Jim Brunsden, The Financial Times
• The Spectator magazine, "The UK should drop its 'no deal' threat" by James Delingpole
• EU sources, citing Michel Barnier's statement that tariffs are no substitute for a level playing field.