There are many divergences and they are very serious divergences, which is probably quite natural after a first round of negotiations,” Michel Barnier, the EU’s Brexit chief, told reporters. The differences revolve around competition rules, fisheries and future oversight of the U.K.-EU relationship, Barnier explained. However, Barnier also told reporters that a trade deal is still possible, but only if there is mutual respect and no reneging on previous commitments.