EU chief says no-deal on post-Brexit trade harms UK

European Commission chief Ursula von der Leyen warned Wednesday that any failure to rapidly negotiate a new trade deal after Brexit would hurt Britain more than it would the EU.

"The timetable ahead of us is extremely challenging," she told the European Parliament in Strasbourg.

"In case we cannot conclude an agreement by the end of 2020, we will face again a cliff edge. This would clearly harm our interests but it will impact more the UK."