Britain, EU far apart as they enter high-stakes trade negotiations

Britain and the European Union are due on Monday to launch high-stakes negotiations on their future relationship, with time pressing and their positions far apart on many key issues.

The two sides have until the end of the year to strike a deal on trade and issues such as security co-operation, before EU rules cease to apply to Britain following its departure from the bloc on January 31.

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Britain is threatening to walk away from the negotiations if they fail to deliver significant progress by June. Without a deal, the substantial trade between both sides reverts to basic World Trade Organization rules, imposing tariffs and other barriers.

The talks are set to begin on Monday afternoon in Brussels, led by EU Brexit negotiator Michel Barnier and his British counterpart David Frost. The first round is expected to last until Thursday, with new rounds expected every three to four weeks.

Brussels is offering a wide-ranging free trade deal that would avoid any tariffs or quotas, on condition that Britain agrees to so-called level playing field commitments that would stop it from undercutting EU standards in areas such as state subsidies and environmental or labour laws.

London, on the other hand, stresses that the negotiations are about regaining political and economic sovereignty, including the right to set its own rules. Britain says it has no interest in lowering standards.

Brussels wants to negotiate a single comprehensive deal, while London has proposed several stand-alone accords. The two sides also differ on issues such as fishing rights, dispute resolution and the role of the European Court of Justice. (dpa)