If the deal is not agreed, both parties should “take it and move on,” he said.
Negotiations are due to resume on Monday 7 September. They were previously stumped by Britain’s insistence on full autonomy over government support and fisheries.
“If by that time we cannot agree, then I don’t think there will be a free trade agreement between us, and we should accept this and move on,” the statement reads. In the event that a deal is not reached, the UK-EU trade relationship will continue as an agreement between the EU and Australia.
Recall that the UK left the EU on January 31. Until the end of 2020, a transitional period lasts, when the parties agree on a model for future cooperation. EU rules still apply to the UK.
source: bbc.co.uk
