The United Kingdom and the European Union are expected to seal new deals on fishing rights and defense as officials meet in London to discuss closer ties.

The U.K. and European Union finally agreed to reset relations Monday, sources told CNBC, after Britain's acrimonious exit from the EU in 2020.The U.K. and European Union finally agreed to reset relations Monday,

Expect talk of haggling, fish, cash and courts as the summit risks inflaming old Brexit rows.