UK Close To Giving Up Hopes On Reaching A Brexit Trade Deal

The UK Government has reportedly abandoned hope of striking a Brexit trade deal with the EU.

It comes just days before the end of July when Boris Johnson said he believed an outline agreement could be passed.

But now ministers are working with the assumption that Britain will begin to trade with Europe on World Trade Organisation (WTO) terms when the transition period ends on December 31, according to The Daily Telegraph.

The UK’s chief negotiator David Frost and the EU’s Michel Barnier began the latest round of talks in London on Monday.

However, neither side is backing down on fishing rights, so-called level playing field guarantees, governance of the deal and the role of the European Court of Justice.

The negotiations are due to finish on Thursday with no expectation of a breakthrough. And there are no more face to face talks scheduled this month, meaning Mr Johnson’s July deadline will have passed.

Senior sources told the Telegraph that there is an assumption “there won’t be a deal” but a “basic” agreement could still be struck if the EU yields ground in the autumn.

However, neither side is backing down on fishing rights, so-called level playing field guarantees, governance of the deal and the role of the European Court of Justice.

The negotiations are due to finish on Thursday with no expectation of a breakthrough. And there are no more face to face talks scheduled this month, meaning Mr Johnson’s July deadline will have passed.

Senior sources told the Telegraph that there is an assumption “there won’t be a deal” but a “basic” agreement could still be struck if the EU yields ground in the autumn.

Meanwhile, businesses have already been told to start preparing for a no trade deal exit.

German Chancellor Angela Merkel also called on Brussels to step up preparations for a no-deal scenario since “very limited” progress has been made during the negotiations.