London, December 10: British Prime Minister Boris Johnson on Thursday said there is a "strong possibility" that the UK will not have a post-Brexit trade deal with the European Union (EU). Boris Johnson went on to add "now is the time" for businesses and the public to prepare for that outcome. He also said that negotiations were "not yet there at all", adding that they were going to "go the extra mile,", according to the BCC. Brexit: PM Boris Johnson Says, Situation At the Moment Very Tricky; EU-UK Remain At Loggerheads Over New Trade Deal.

His remarks came a day after his meeting with European Commission President Ursula von der Leyen in Brussels remained inconclusive. The emergency meeting between Johnson and von der Leyen to seek a post-Brexit trade deal ended without breakthrough as "very large gaps remain" between the two sides, British media reported late Wednesday. Boris Johnson to Resign Due to Low Salary? Here's What The UK PM Currently Earns.

Earlier today, Ursula von der Leyen said the EU and Britain will come to a decision on a post-Brexit trade deal by the end of the coming weekend. "We had a lively and interesting discussion on the state of play on outstanding issues," von der Leyen said, underlining that the positions of both sides remain "far apart." Johnson and von der Leyen had made a telephone call on Monday, the second call in 48 hours.

The trade negotiations are at a crucial stage as time is running out for both sides to secure a deal before the Brexit transition period expires at the end of the year. Failure to reach a free trade agreement means bilateral trade will fall back on World Trade Organization (WTO) rules in 2021. (With IANS inputs)

(The above story first appeared on LatestLY on Dec 11, 2020 12:00 AM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).