Michel Barnier is aiming to resolve key fishing issues before the Brexit deadlock

Addressing the European Parliament, the EU's chief negotiator Michel Barnier stated that this is a critical point in time for both sides to resolve issues and seek to strike a deal as the final few hours are left of Brexit deadlock.

After discussions with representatives to the EU's heads of state and fisheries ministers, Barnier was engaged in late-night talks with the UK negotiators team led by David Frost.

Both sides are at loggerheads concerning whether the EU will have the option to impose taxes on UK products or should the UK shut its seas to EU ships after the transition period ends.

There are significant disagreements over how much fish the UK can catch in its own waters in the coming future, while Barnier has proposed to return 15% to 18% of fish quota caught by EU in British waters.

On Friday, Boris Johnson stated that it would be tough if the UK were to be compelled to trade on World Trade Organization (WTO) terms from 1 January, however, demanded it was the ideal opportunity for the EU to proceed onward with what is presently the greatest hindrance.

He added that the UK's door is open, and the talks will continue. However, things are looking difficult. Moreover, there's a gap that requires to be bridged. We've done a great deal to help out, and we trust that our EU companions will notice sense and approach to the table with something themselves.

However, earlier, Barnier stated that the main hurdle to strike an agreement was that whether Brussels would have the option to hit British merchandise with taxes if the authorities shut its fishing waters to EU fishing fleets later on.

The Labour leader Sir Keir Starmer blamed the government for hesitating over Brexit, calling Boris Johnson to finalize this deal and give it to the British public.

In case a deal is not concurred upon by the end of this month, they will have to proceed to trade as per the World Trade Organization (WTO) laws, which could lead to price rise and levied taxes on goods exchanged. Johnson has confidence that the UK will "succeed" with or without a trade accord with the EU.

Currently, talks are happening in Brussels among Barnier and his UK partner, Lord David Frost, who are aiming to find a solution to key issues.

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