Without the loaded phrasing, this just means the UK wants the EU to use part of the new defense funds to buy British made weapons and France the EU wants to expand the mutual access to fishing areas in return.
Tbh, it might be better if both parties agreed to a fishing moratorium instead. At the current rate, there won't be much seaborne life left in a couple of years. Although maybe humanity should just to empty the seas before climate change does (/s).