New Brexit deadline: But but but …

Trade experts say that if Johnson sticks to his plan of a trade deal removing tariffs but little else, he may end up needing more time. “There will still need to be an extension of the status quo for a while longer, whether it’s called a transition extension or not, because otherwise when you move from status quo to free trade agreement, you create an overnight cliff-edge scenario similar to no deal,” the Centre for European Reform’s Sam Lowe tells Playbook. “So there will need to be an actual implementation phase regardless.”