No Trade Deal Still Most Likely Brexit Scenario, U.K.’s Johnson Tells Ministers

LONDON (Reuters) -
Britain’s chief negotiator David Frost leaves the U.K. Mission for Brexit negotiations, in Brussels, Belgium, Monday. (REUTERS/Francois Walschaerts)

British Prime Minister Boris Johnson repeated to his top ministers on Tuesday that the most likely outcome of post-Brexit trade talks with the European Union was no deal, but his team would still try to reach an agreement, his spokesman said.

During an update for his Cabinet team, Johnson “reemphasized the desire to reach a free trade agreement, but not at any cost, and reiterated [that] any agreement must respect the independence and sovereignty of the U.K.,” the spokesman said.

“The prime minister made clear that not being able to reach an agreement and ending the transition period on Australia-style terms remained the most likely outcome but committed to continuing to negotiate on the remaining areas of disagreement.”

Australia does not have a trade agreement with the EU.