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The managing director of Germany’s BDI industry lobby also warned there would be an “economic disaster” if the UK and EU could not resolve their trade differences. It is now thought the most possible option is a trade deal under World Trade Organisation (WTO) rules. In a statement made on Friday Joachim Lang, managing director of Germany’s BDI industry lobby, said the UK and the EU must “prepare for bilateral trade without an agreement under WTO rules”.
He added: “German industry does not expect the UK to complete the infrastructure for cross-border trade in time.”
Mr Lang added: “Companies face the threat of new tariffs, additional bureaucracy, and an economic disaster.”
The news comes as the EU’s Brexit negotiator Michel Barnier conceded that “big differences” remain between the two sides after talks failed to resolve all issues in London.
Mr Barnier concluded that resolution is now “unlikely”.
He said this is because the British government does not want to back away from its red lines.
Speaking to Bloomberg, Mr Lang said he could see the UK even stepping back from promises that they have already committed to.
He said: “London has repeatedly deviated from the political declaration on key issues, such as future competition regulations.
“It’s imperative for the German government and the EU to join forces and give full focus to the necessary emergency measures.”
Founder member of the Whitstable Sceptics discussion group Graham Simpson said: “German industry says Brexit talks failure is almost inevitable.”
Economic experts have said the UK is on course for the deepest downturn of any major economy.
This will be due to a combination of coronavirus lockdown effects and the persistent uncertainty surrounding Brexit.
Boris Johnson has described his eagerness to create a”global Britain ” after Brexit.
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Back in February 3 Mr Johnson said: “We are ready for the great multi-dimensional game of chess in which we engage in more than one negotiation at once.”
David Henig, a former trade negotiator, and director of the UK Trade Policy Project at the European Centre for International Political Economy said the UK was weakening its relationship with the EU.
But he warned at the same time the UK was, “weakening relations with China and Hong Kong as well”.
This meant there would be extra barriers to trade with quite a lot of the UK’s largest trading partners.
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