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No deal on Brexit trade ‘very very likely’, British PM Johnson says

LONDON/BRUSSELS (Reuters) -Britain is likely to complete its journey out of the European Union in three weeks without a trade deal, British Prime Minister Boris Johnson and European Commission chief Ursula von der Leyen said on Friday.

Britain quit the EU in January but remains an informal member until Dec. 31 – the end of a transition period during which it has remained in the EU single market and customs union.

Both sides say they want to agree arrangements to cover nearly $1 trillion in annual trade but negotiations are at an impasse, with Britain standing to lose zero-tariff and zero-quota access to the huge European single market.

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