Brexit: time for a trade deal is getting shorter, warns prime minister

Boris Johnson has been clear with the EU that the time left to reach a post-Brexit trade deal is “tight,” says Downing Street.

The prime minister has set a deadline for this Thursday, after which he has said that the UK is ready to “leave.”

Issue 10 said the time limit was still in place and the government was trying to “bridge” disagreements over fishing rights and state aid for companies.

Meanwhile, the UK negotiating team is in Brussels to continue talks.

These come after Johnson and the president of the European Commission, Ursula von der Leyen, called for an intensification of the discussions.

The prime minister set his deadline to coincide with the start of an EU summit, at which leaders will discuss the status of trade talks.

Both sides have spoken of progress in the past two weeks, but there are still significant disagreements on two issues in particular.

First, the EU wants the UK to follow its rules on state aid (financial assistance given by the government to businesses), but the UK says it would undermine independence.

Second, the UK wants full access to EU markets to sell its fish, but in return the EU demands full access for its fishing fleets to UK waters, which the UK does not want to provide.

France is reported to be willing to scrap a deal if the UK does not back down on fishing rights.

If no agreement is reached, the UK and the EU would operate under the World Trade Organization rules from January 1 next year, which would mean tariffs on goods.

Last week, Irish Prime Minister Micheál Martin said a “move” was required before “end-state negotiations” could begin.

UK chief negotiator Lord Frost said he will advise the prime minister on whether the conditions set by the UK for a deal have been met after his talks with his EU counterpart Michel Barnier in Brussels.