Read more about No deal on Brexit trade more likely than agreement – EU Commission chief on Business Standard. Britain quit the EU in January but remains an informal member until Dec 31
is more likely to leave the European Union’s orbit on Dec.31 without a trade deal than with an agreement, the head of the European Commission was quoted as telling the bloc’s 27 national leaders on Friday. 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 talks are at an impasse and British Prime Minister Boris Johnson said on Thursday there was „a strong possibility“ an agreement would not be clinched. In the case of a „no deal“ on trade, would lose zero-tariff and zero-quota access to the European single market of 450 million consumers overnight. „The probability of a no deal is higher than of a deal,“ an EU official who declined to be identified quoted Ursula von der Leyen, the president of the EU’s executive European Commission, as saying during an EU summit in Brussels.
