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No Brexit trade deal “very likely” as pressure grows on sterling and UK companies - BBC News

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The chances of a post-Brexit trade deal appear to be receding. Boris Johnson said a no-deal outcome now seemed “very likely” and the President of the European Commission was also gloomy about the chances of success.

However ministers in Ireland and Germany struck a more optimistic note, saying that a deal was still feasible.

The UK and the EU have agreed that a decision on the future of the negotiations will be made by Sunday 13th December. The current transition period for trade ends with the start of the new year.

There are warnings of serious congestion at the UK’s borders and financial analysts have warned of a plunge in the value of sterling and UK shares if no trade deal is agreed.

Reeta Chakrabarti presents BBC News at Ten reporting by political correspondent Alex Forsyth, europe editor Katya Adler and economics editor Faisal Islam.

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