With time running out, EU and U.K. near trade deal

European Union and British negotiators closed in on a trade deal Wednesday with only a disagreement over fishing remaining, raising hopes a chaotic economic break between the two sides on New Year’s Day could be averted even as soon as before midnight, officials said. After resolving a few remaining fair competition issues, negotiators were dealing with EU fisheries rights in U.K. waters as they worked to secure a deal for a post-Brexit relationship after ninemonths of talks.

Two EU sources said the negotiations were in a final phase now, with one saying: “I expect to see some white smoke tonight.” The official asked not to be identified because the talks were still ongoing.