Sign up for our daily briefing
Make your busy days simpler with Axios AM/PM. Catch up on what's new and why it matters in just 5 minutes.
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Catch up on coronavirus stories and special reports, curated by Mike Allen everyday
Denver news in your inbox
Catch up on the most important stories affecting your hometown with Axios Denver
Des Moines news in your inbox
Catch up on the most important stories affecting your hometown with Axios Des Moines
Minneapolis-St. Paul news in your inbox
Catch up on the most important stories affecting your hometown with Axios Twin Cities
Tampa Bay news in your inbox
Catch up on the most important stories affecting your hometown with Axios Tampa Bay
Charlotte news in your inbox
Catch up on the most important stories affecting your hometown with Axios Charlotte
U.K. Prime Minister Theresa May and European Council President Donald Tusk at 10 Downing Street. Photo: Frank Augstein / AP
The United Kingdom and European Union are potentially still months away from finalizing an exit deal for the U.K. that would allow Brexit negotiations to move on to discussions surrounding a permanent trade deal, per Bloomberg.
The hang up: Before the U.K. officially exits the E.U., which will happen with or without a deal in March 2019, the E.U. is attempting to force the U.K. to honor its financial commitments as a member of the bloc with a significant "divorce payment." In an attempt to compromise, Prime Minister Theresa May gave a speech in Florence last week promising that the U.K. would pay into the E.U.'s budget for two years in order to guarantee a two-year transition period that would maintain current trade rules.