UK’s Prime Minister Boris Johnson said there is a “strong possibility” the UK will fail to strike a post-Brexit trade deal with the EU.
As per the details, the PM spoke for the first time since a church meeting in Brussels. He said“now is the time” for firms and people to prepare for a no-deal outcome.
Mr. Johnson met European Commission President Ursula von der Leyen on Wednesday but failed to make a breakthrough.
He vowed British negotiators would “go the extra mile” to reach a deal.
But he said the EU wanted to keep the UK “locked” into its legal system or face punishments such as taxes on imports, which had “made things much more difficult”.
The PM added that the EU’s proposals would mean, despite leaving the bloc earlier this year, the UK would be forced to remain a “twin” of the 27-country organization.
“At the moment, I have to tell you in all candor, the treaty is not there yet and that was the strong view of our cabinet,” he said.
But Mr. Johnson said that “looking at where we are,” it was vital the UK prepares for the “Australian-style option” of not having a free trade deal with the EU.
“There’s a strong possibility that we will have a solution much more like an Australian relationship with the EU than a Canadian relationship with the EU,” he said.