The trade agreement between Britain and the European Union has stalled in the post-Brexit period.

Reuters quoted a senior British government source as saying that there is a high possibility that Britain will not be able to reach a trade deal with the European Union in the post-Brexit period.

The source said: “The negotiations are in the same position they were in on Friday and we have not made any tangible progress.” It is clear that this must continue at the political level now.

He added: “Although we do not consider this process to be over, things seem very complicated and there is a high probability that we will not succeed.”

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen confirmed in a joint statement on Monday that currently “there are no conditions to conclude a trade deal.”

The statement indicated that there are still differences on “equal rules” for the two parties, the administration and fisheries affairs. Negotiators on both sides are expected to work to find solutions to these differences in the near future.

Notably, Britain withdrew from the European Union this year, but has not yet agreed on the terms of its trade and economic relations with the Union. The above rules still apply with regard to trade between Great Britain and European countries. The transition period in relations between London and Brussels is scheduled to end on December 31.