On September 6, UK Prime Minister Boris Johnson has set up an October 15 deadline for a post-Brexit trade agreement with the European Union. With the announcement he has brought end to the speculations about “no deal” chaos with talks between the country and the bloc fails.
The eighth round of negotiations between Britain and the EU resumed in London this week.
Britain’s Chief Negotiator, David Frost, did little to raise expectations about a breakthrough, promising no compromise on London’s red lines.
In an official statement, UK Prime Minister Boris Johnson said, “There needs to be an agreement with our European friends by the time of the European Council on October 15 if it’s going to be in force by the end of the year.”
“So, there is no sense in thinking beyond that point. If we can’t agree by then, then I do not see that there will be a free trade agreement between us,” added PM Johnson.
He said that if it happens, Britain will have an “Australia-style” deal with the EU or one similar to that agreed with Canada and other countries. Australia trades with the EU under World Trade Organization rules and tariffs.
Brussels has already indicated that mid-October was the latest a deal could be struck, given the need for translation and ratification by the European Parliament.