Goes back and enters into further negotiations (8)

I believe the answer is:

retreats

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'goes back' is the definition.
('retreat' can be a synonym of 'go back')

I don't understand the rest of the clue.

(Other definitions for retreats that I've seen before include "Goes back, like defeated army" , "Recedes" , "Of army, falls back before enemy attack" , "tactical withdrawals" , "Places that afford peace and quiet" .)

I've seen this clue in the Evening Standard.

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