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Saved by @Alex1Powell

BREAKING: The EU and UK have agreed a trusted trader scheme that would mean exemptions from tariffs for up to 98pc of goods flowing between Great Britain and Northern Ireland from January 1, @rtenews has learned.
The other 2% wd potentially avail of rebates from any tariffs.

 2/ Tariffs would mostly only apply if no free trade agreement is concluded between the EU and UK.

Both sides have also agreed that agrifood products coming from GB to Northern Ireland will be exempt from requiring export health certificates for a period of at least three months
3/ These have proved the biggest concern for UK supermarket chains in NI, who rely on large and mixed consignments of food coming from GB depots.
Export health certificates can cost up to £200 per product and need to be signed off by a designated veterinary inspector.
4/ It’s understood the issue of how supermkts will comply with EU food safety rules could be dealt with through a UK commitment - possibly a declaration - that it does not intend to change its food safety rules from Jan 1. At that point the rules will be the same as the EU's.
5/ The trusted trade scheme would be subject to a review, or sunset clause, three and a half years after the Protocol comes into effect, according to an internal EU briefing
6/ If the EU is not satisfied with the way the scheme is operating, it can trigger an emergency brake through the EU UK Joint Committee, which is tasked with implementing the Northern Ireland Protocol.
7/ Alternatively, the system could be tweaked rather than halted completely, depending on how it is operating. The 3.5 yr review clause is deliberately timed to precede the first vote of the NI Assembly on whether or not the trade provisions of the Protocol should be continued.
8/ This is under the consent clause of the Protocol.
9/ It’s understood that chilled meats, sausages, mince and unfrozen prepared meals - which are prohibited and restricted from entering the EU from third countries - will be permitted for a period of time, pending a review by both sides.
10/ It’s understood that once a derogation period has elapsed, NI supermarkets will have to source such products locally or from the South.
11/ RTE News also understands that the various grace periods and derogations will give supermarkets time to improve their own food traceability and stock management systems...
12/ ...which in turn could play a role in reassuring MS as to the safety of food supplies entering the single mltarket from GB, which will be a third country.
13/ The EU and UK have also agreed in principle that exit summary declarations for goods going from NI-GB will not be required +the information will instead be generated from data - such as that held on manifests - that already exists for NI-GB ferry consignments.
14/ EU officials who are entitled to monitor the implementation of checks and controls at Northern ports will be based in temporary office space, such as co-working facilities, it’s understood.
15/ These officials, mainly from the customs sphere, will be recruited from member states and rotated in and out of Northern Ireland.
16/ However, EU member states will also be entitled to monitor UK customs databases within their own capitals as part of their surveillance of goods entering Northern Ireland, and thereby entering the rest of the single market.
17/ The College of EU Commissioners is this morning being briefed on the agreement, and both sides are expected to publish the details tomorrow.

ENDS

More from Tony Connelly

Tony Connelly
Tony Connelly
@tconnellyRTE
Some compelling evidence at the NI Affairs Committee this morning on Brexit, the risks of smuggling, organised crime, the "soft underbelly" of the Irish border, the loss of the European Arrest Warrant and what might replace it

2/ Giving evidence were Simon Byrne, chief constable of the PSNI, Mark McEwan, assistant chief constable, Steve Rodhouse, of the UK National Crime Agency, and Steve Tracey, of HMRC. Here's the gist of what I've just filed for @rtenews online:

3/ A UK law officer has raised the prospect of intl organised criminals trafficking drugs, people + firearms into the UK via Ireland because of tighter controls at GB ports thanks to Brexit. He also suggested that Ireland may have to tighten security at its ports accordingly.

4/ Steve Rodhouse, DG of Operations with the UK National Crime Agency, said organised criminals would be making a “fundamental choice” as to whether they continue to traffic drugs, people and firearms into the UK via English ports...

5/ ...or whether they might decide to switch routes into the UK through Northern Ireland via the Irish Republic.
Mr Rodhouse told a House of Commons committee that such trafficking was already underway through what could be termed the “soft underbelly” of the Irish border.
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Tony Connelly
Tony Connelly
@tconnellyRTE
Breaking: The DUP and Sinn Fein leaders have sent a joint letter to the European Commission describing as “unacceptable” the alleged threat to the continuity of existing food supplies to Northern supermarkets once the Northern Ireland Protocol takes effect.

2/ The letter, seen by @rtenews, and signed by @DUPleader and @moneillsf, highlights the problem of the need for checks and controls on food products entering Northern Ireland from Great Britain from January 1 and how that might impact on the supply of food to supermarket chains.

3/ The First/Dep First Ministers write: “It is hard to imagine a more fundamental aspect of everyday life than the purchase of daily food supplies...

4/ "Hence we would ask you to recognise how important it is that the current consideration of the detail of how the Protocol will be applied takes our unique context into account.”

5/ Under the Protocol, food and animal derived products entering NI from Great Britain will be subject to the EU’s food safety regime, meaning that so-called sanitary and phytosanitary (SPS) checks will be required on a range of products destined for supermarket shelves.
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Tony Connelly
Tony Connelly
@tconnellyRTE
After Michel Barnier's briefing of EU ambassadors this afternoon, here's where things stand:

2/ There is a basic deadline of Christmas Eve to get a deal. That will give the EU's legal services time to draw up a letter to send to the UK seeking provisional application of the treaty from Jan 1

3/ It's understood officials will need four days at a minimum to draft a letter seeking provisional application of the treaty (all this is on the basis that it is pretty much too late for the European Parliament to ratify the treaty on time for Jan 1)

4/ On the prospects for a deal: diplomats say they're not ruling out a deal by Christmas eve. Michel Barnier said there had been significant progress. Member states expect to convene a meeting of the Working Party (of Brexit coordinators) every day (except Christmas Day)

5/ Acc to one diplomat Barnier will publish the text once/if it's agreed, but before it's been legally scrubbed. Member states can approve the text via written procedure (sending a formal letter) as there are no Council meetings foreseen to do it in person between now and Dec 31
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Tony Connelly
Tony Connelly
@tconnellyRTE
NEW: European Commission president @vonderleyen: As things stand I cannot tell you whether there will be a deal or not, but I can tell you there is a path to an agreement now. The path may be very narrow but it is there.

2/ VDL - it is therefore our responsibility to continue trying.

3/ Commission president says the "good news" is we have found a way forward on most issues, but this is now a case of being "so close and yet being so far away from each other."

4/ VDL - level playing field: our aim is simply fair competition on our own market.

Says the "architecture" of a level playing field provision rests on two pillars: state aid and standards

5/ On state aid we have made progress based on common princples, guarantees of domestic enforcement, the possibility to autonomously remedy the situation where needed [ie, either side can take action if distortions of trade etc]
POLITICS
Tony Connelly
Tony Connelly
@tconnellyRTE
Amid the hail of accusations that the EU wanted to put a hard border on the island of Ireland last Friday, it's worth pointing out what the ill-fated resort to Article 16 was about:

2/ Under the Commission's trade mechanism, any Covid vaccines leaving the EU for third countries would need export authorisations, ie to ensure vaccines were not being exported which were actually part of an avanced purchase agreement between member states + pharma companies

3/ Any movements of exports from one member state to another would NOT have required such an export authorisation

4/ Because of the NI Protocol, Northern Ireland would typically have availed of NOT having to had export authorisations for any vaccines being sent there from Belgium (or wherever)

5/ However, someone in the Commission spotted the fact that, also under the Protocol, there was unfettered movement of goods between NI and GB
WORLD

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Check Bank Nifty at 3:15 everyday.

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Don't trade till 9:45 Am.

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$PIPP

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2. ALL IN - SCALE OUT
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