It is “possible but far from certain” that a post-Brexit trade deal could be agreed with Brussels on Wednesday, a Downing Street source has said. A UK cabinet minister has also indicated that hopes are rising for securing an agreement although major differences still remain between the UK and the EU. The legal drafting and scrutiny of any deal by member states would also take time and is an additional pressure on the talks. The parliament could vote at the end of the month to give its stamp of approval to the deal. A deal would avoid the worst damage of a shift to default World Trade Organisation terms, but would still mean barriers to trade between the UK and EU that did not exist before.

Source: The Irish Times December 23, 2020 13:07 UTC