"Some progress", most likely outcome with EU is no trade deal, UK PM's spokesman says

the most likely outcome is still leaving on Australia terms." Australia does not have a free trade agreement with the EU, meaning the bulk of its trade is on World Trade Organization terms.

Britain and the European Union have made "some progress" in post-Brexit trade talks but there are still significant gaps and the most likely outcome is for negotiations to end in no deal, Prime Minister Boris Johnson's spokesman said on Wednesday.

"We have made some progress in some areas but it still remains that there significant gaps," the spokesman told reporters. "Our position is still that we want to reach an FTA (free trade agreement) but it is still the case ... the most likely outcome is still leaving on Australia terms."

Australia does not have a free trade agreement with the EU, meaning the bulk of its trade is on World Trade Organization terms.

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