Brexit on the brink again

Negotiations over a free trade agreement have reached a “difficult phase,” U.K. Business Secretary Alok Sharma said Friday. Talks resumed a week ago, but the same disagreements over fishing rights, fair competition, and dispute resolution resurfaced as the lawmakers scrambled to reach a deal before the Dec. 31 deadline. British Prime Minister Boris Johnson will speak with European Commission President Ursula von der Leyen on Monday evening to decide the fate of the agreement after acknowledging that “significant differences remain” during an earlier phone call on Saturday.

What happens if they can’t compromise? The United Kingdom exited the EU on Jan. 31 but had 11 months to work out a free trade deal. If that fails, Britain could face border checks and tariffs on goods moving to and from the bloc beginning on Jan. 1. EU officials could extend the deadline, a move that could bring more economic uncertainty.

Dig deeper: Read my report in World Tour on how the divorce process between Britain and the EU finally began in January.

Editor's note: WORLD has updated this report since its initial posting.