Business Maverick: Boris Johnson Heads to Brussels for Crisis Talks: Brexit Update

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British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen agreed to meet in person in the coming days in an effort to find a way around the impasse in trade talks.

EU officials say Wednesday is cut-off point for a dealNo-Deal Brexit Would Inflict Pain on Europe, Too: Lionel LaurentJohnson and von der Leyen plan to meet face-to-face in Brussels and have asked their negotiating teams to prepare an overview briefing on the state of play, according to a joint statement.

The U.K. proposed that under any deal it struck, it would allow only boats whose ownership is majority British to be classed as such, according to the two diplomats briefed on the talks. This could significantly restrict how many EU boats would be able to access U.K. waters irrespective of what’s agreed on quotas.U.K. Cabinet Office Minister Penny Mordaunt said a deal is still possible, but the disagreement over the level playing field is proving the most difficult to resolve.

The Internal Market Bill would give U.K. ministers powers to determine what goods entering Northern Ireland are at risk of being moved in to the EU and therefore could be subject to tariffs. The EU has threatened legal action over the legislation, which it says breaks the terms of the original Brexit divorce deal. The U.K. insists the law will protect its own internal market.

The premier, Davies said, will use a call later Monday with von der Leyen to “take stock” of the situation.Both sides are now looking at Wednesday as the final day a deal could be done, three EU officials said. One said Barnier told members of the European Parliament as much in a private meeting on Monday.

This relates to the main fishing area, between 12 and 200 miles off the British coast. Actual quota numbers, plus the U.K.’s determination to prevent EU from accessing waters between six and 12 miles from the British coast is still proving difficult, Barnier said.An EU diplomat close to the talks said the negotiations are approaching a make-or-break moment. There has been some progress but nothing decisive, he said. He warned these developments are unlikely to be seen by the U.

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