Britain-EU Likely to Finalize a Goods-only Trade Deal Before End of Transition Period: Reuters Poll

Over two thirds of economists feel that the transition period for negotiation of a trade agreement between Britain and the EU will not get

Britain-EU Likely to Finalize a Goods-only Trade Deal Before End of Transition Period: Reuters Poll

According to a recent Reuters poll, over two thirds of economists feel that the transition period for negotiation of a trade agreement between Britain and the EU will not get extended beyond the end of the year, and could result in the partial finalising of a goods-only agreement by December 31. Both sides appear to be taking hard stands head of the next round of negotiations which are scheduled for March and, with just a few months to go, markets are not optimistic they will be able to reach a comprehensive trade deal within the deadline.

The British Prime Minister and government have repeatedly insisted on enforcing a hard deadline for the end of the transition period post-Brexit on December 31, 2020. The EU also appears just as unwilling to consider giving Britain more time for negotiations, which good further drag on the Brexit process.

Over 90% of economists feel optimistic about a free trade deal between the UK and the EU in the future. The next likely scenario would be a trade relationship between the two regions based on WTO rules, while the least likely scenario has Britain remaining as a member of the European Economic Area.

The possibility of a no-deal Brexit scenario has increased from 20% to 25% in the latest polls. Economists also indicated less surety about the possibility of any deal being finalized in such a short span of time to be applicable to the trade of both goods as well as services.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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