EU's Barnier: Trade negotiations with UK will be complex and demanding

Eren Sengezer FXStreet

The trade negotiations between the EU and the UK will start on Monday, European Union’s Chief Negotiator Barnier announced during a press conference on Tuesday.

"The EU is ready to open some ten negotiating tables at the same time," Barnier said, per Reuters. "These will be complex, demanding negotiations. The EU won't conclude talks at any price."

GBP/USD reaction

The GBP/USD pair is now trading at fresh daily lows near 1.3000, adding 0.55% on the day. However, this seems to be a product of broad USD weakness rather than a GBP reaction to Barnier comments.

Additional takeaways

"Withdrawal Agreement with Britain must be respected in all dimensions."

"The EU will set in place before the end of march a non-negotiating joint committee to monitor implementation of what is in the treaty on Northern Ireland."

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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