The Strategist

UK sets to negotiate trade deal with EU by October 15

09/07/2020 - 03:37

Britain has set a deadline of October 15 to negotiate a Brexit trade deal with the European Union, Reuters reported, citing a statement by British Prime Minister Boris Johnson ahead of the final round of negotiations.

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.