Ireland's PM Martin: The presence of the US president in the Northern Ireland protocol debate is important. We can trust UK's Prime Minister Johnson, but more involvement from the UK is needed.
EC Pres. von der Leyen: The EU is striving to make the NI Protocol functional. The EU is 'bent over backwards' to facilitate the protocol. We see gaps in the execution of the protocol.
Pres. of EU Council Michel: We can use all of our resources to ensure that our interests are protected over Brexit. The EU would defend the integrity and the single market.
Simmering political tensions between the EU and the UK over the Northern Ireland protocol might complicate trade flows if an agreement on food standards is not reached, according to ING's developed markets economist. Trade has rebounded markedly since the January slump, but there is still some catching up to do. If not resolved, the recent differences over protocol implementation could result in retaliatory tariffs on UK products to the EU, significantly crimping goods exchanges.
"None of this is likely to have a significant impact on the overall economic development path for the next year or so...but, in the long run, as the pandemic's impact diminishes, the effect of trade frictions will certainly persist," they said.
UK's Prime Minister Johnson is getting ready to meet Biden for the first time ahead of the Group of Seven summit that the UK is hosting. Leaders will discuss COVID, China and climate.