Clarity is required on Brexit before the end of 2020 because both the EU and Britain will need to know what potential tariffs could apply in the new year in the event of no deal, according to Paschal Donohoe.
The Minister for Finance said, “I believe an agreement can be reached”.
He did not know if the negotiations would continue beyond Christmas and into next week but “they will have to conclude in the coming days” because they needed clarity on the tariffs that would potentially apply at the start of 2021
As Brexit negotiator Michel Barnier briefed EU ambassadors on the “final push” in the trade negotiations, Mr Donohoe told reporters he was still hopeful of agreement between the two sides but clarity was needed.
“There will be a need to reach agreement during 2020 for the very obvious reason that clarity is needed regarding how supply chains will work at the start of 2021,” he said.
Speaking in Dublin at the launch of the 2020 North East Inner City report, he said, “I believe an agreement can be reached. I understand that some progress has been made, but I know that particularly in the area of fisheries there is still much negotiation that needs to be completed.”
He expected those negotiations would continue for “a bit longer”.
“I don’t know if they’re going to next week. That’s going to depend on the progress that is made in those negotiations.
“But we do need to know from a European, and indeed from a British point of view, what would be the regulations, what would be for example the potential tariffs that could affect the supply and pricing of goods into and out of Europe, and Ireland and the United Kingdom.”
