EU Brexit draft guidelines: future trade in goods with Britain should be subject to zero tariffs

Here are some of the key points in the EU Draft guidelines for ties with the UK after Brexit, via Bloomberg, citing EU document.

   •  UK financial services can operate in EU under host state rules
   •  Future trade in goods with Britain should be subject to zero tariffs
   •  EU wants tariff-free and quota-free trade
   •  There can be no cherry-picking or “partial participation” in the single market, as the U.K. wants
   •  Services will only be included with restrictions
   •  EU is ready to change its position if the U.K. rubs out its red lines
   •  EU wants close cooperation on defense, security and policing
   •  EU wants to maintain existing reciprocal access to fishing waters and resources
   •  Future trade agreement with UK on financial services should take into account that Britain would be a third country, not share common rules