EU says: we are now in last moments to reach Brexit trade deal

European Commission vice-president Valdis Dombrovskis attends a media conference to present the Commission opinions on the draft budgetary plans, euro area recommendation, alert mechanism report and joint employment report, in Brussels, Belgium November 18, 2020. REUTERS/Johanna Geron/Pool

BRUSSELS (Reuters) - Britain and the European Union are in the last moments to reach a trade deal that would regulate their relationship after Britain’s transition period ends on Jan 1, 2021, the EU’s Trade Commissioner Valdis Dombrovskis said on Wednesday.

Dombrovskis would not speculate about any deadlines for ending the trade talks, saying the only deadline that could not be moved was Jan 1, 2021, when Britain’s transition period after its exit from the EU earlier this year ends.

Reporting by Jan Strupczewski