And the EU's view on the transition period
www.theguardian.com/politics/2019/dec/18/cliff-edge-brexit-will-hurt-uk-more-than-eu-says-von-der-leyen?CMP=share_btn_tw
Charles Michel, the president of the European council, said the next stage of the negotiations would be guided by ensuring the UK cannot undercut EU standards after Brexit.
“The idea of a level playing field will be our guide over the next stage of negotiations,” he said, referring to the need for the UK to sign up to EU rules on state aid, tax and the environment.
Michel said EU leaders had taken the news of Johnson’s election triumph at a Brussels summit last week “very calmly” and “very serenely”.
The former prime minister of Belgium added that it was not the EU’s intention to extend the trade talks deadline of the end of 2020 – but he left the option open. The EU is within its rights to ask for an extension from the UK.
Such is the lack of time, the EU is planning to prioritise issues around trade, fisheries and security, leaving key areas of cooperation such as data sharing, transport, including the rights of British air carriers, and any arrangements for the services sector, for after the 2020 deadline.
The EU’s chief negotiator, Michel Barnier, said the extent to which tariffs and quotas on goods could be lifted, and friction on trade alleviated, would depend on the UK’s answer to a single question: “Does it want to distance itself, and if so how far, from our regulatory model?”
Leaving without a deal in place at the end of next year will mean the UK will trade with the EU’s 27 member states on World Trade Organization terms, which would include hefty tariffs on British goods entering the European market.