Brexit deal hopes snagged on fishing

Some are calling it 'Merry Brexmas', but an EU-UK trade agreement seems to have last-minute snags.

Talks on a trade deal have gone down to the wire, with the UK due to leave the single market and customs union at the end of the month.

Sources in London and Brussels have said a deal is close.

But news conferences expected Thursday (December 24) morning never took place.

EU sources say wrangling over fishing quotas is to blame, with hours more talks now possible.

Though there seems to be agreement on other sticking points, such as how to ensure a level playing field for competition between the two sides.

A deal would avert the prospect of both sides imposing widespread import taxes come January the 1st.

It will also cover issues such as security, transport, and energy.

But even with a deal businesses will face new red tape and new costs.

Further disruption at ports seems certain.

But most economists say the alternative of a no-deal exit looked much worse.