United Kingdom dismisses gravity of European Union rejection of May's Brexit proposal

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       Theresa May defends her Brexit plans in the Commons

Tusk said that, while he understood May's goal to make Brexit a success for Britain, that was not the EU's objective.

The EU has been pushing to make the United Kingdom pay a huge Brexit "divorce bill", of an as yet unspecified amount, and wants the United Kingdom to create a sea border in the Irish Sea rather than trust the British government to make customs checks on a relatively open Northern Irish border.

"And I do believe that rationality, common sense will win the day if we conduct ourselves with decorum and patience and I think therefore it's in all our interests to keep the temperature down".

Environment Secretary Michael Gove and Hammond are in disagreement over putting fishing waters on the negotiating table, according to the Express. She also argued that since the rest of the bloc has a trade surplus with Britain of $110 billion a year, it is in the EU's interests to guarantee frictionless trade after Britain's departure.

Britain suffered a Brexit rebuff from the European Union on Wednesday as Brussels warned London could only hope to negotiate a free trade agreement (FTA) that would have "negative consequences" for the region-wide economy.

Responding to Mr Hammond's assertion that it was in the interest of both Britain and European Union to ensure that UK-based financial services companies had easy access to the single market, Mr Tusk said: "I fully respect the Chancellor's competence in defining what is in the UK's interest".

But analysts say that including financial services in a free trade deal would be exceedingly hard. It will make it more complicated and costly than today for all of us.

European Trade Commissioner Cecilia Malmstrom said on Thursday that the European Union was a close ally of the United States and should be exempt from impending US metals tariffs.

The EU's draft guidelines are seen by Britain as a starting point from a skilled negotiator in trade agreements, he said.

Addressing comments by British finance minister Philip Hammond on Wednesday arguing for a bespoke deal or an ambitious free trade agreement covering financial services, Tusk said the European Union cannot offer the same in services trade as it could in goods. Canadian financial firms must set up a presence inside the bloc and comply with its regulations if they want to do business there. Last week, May said not securing a special deal for the City would hurt both regions.

"Our existing trade agreements give a flavor of how it could look like, but anyway it's less than being part of the single market and it has an impact on the financial sector too", Katainen said.

In a statement on the guidelines, Tusk said: "Therefore, it should come as no surprise that the only remaining possible model is a free trade agreement".

He added that "a pick and mix approach for a non-member state is out of the question".

"We can deal multilaterally with the overproduction of steel but this is the wrong way to go about it", he told the live TV audience of a BBC current affairs show. "It's simply not in our interest", Tusk said.

Instead, the European Union proposal sticks with the bloc's traditional approach to dealing with banks from non-EU or third countries.

"This means double regulation".

He called on the British government to produce a "realistic solution" to avoid a hard border on the island of Ireland.

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