frost barnier
© Reuters
David Frost and Michel Barnier met in Brussels this week for the latest round of talks
The chief negotiators from both the UK and the EU have warned that a post-Brexit trade deal is looking increasingly unlikely, following the latest round of talks.

Speaking during his regular press conference, Michel Barnier said: "Too often this week it felt as if we were going backwards more than forwards.

"Today, at this stage, an agreement between the EU and UK seems unlikely. I simply do not understand why we are wasting valuable time."

A trade agreement must go hand-in-hand with fair, mutually agreed standards; a long-term agreement on fishing and no cherry picking when it comes to the Single Market, he said.

"Brexit means Brexit," Mr Barnier added. "There is nothing tactical about this."

But failure to secure a Brexit trade deal will result in "economic turbulence, if not social and political disruption", he added.

David Frost, the UK's chief negotiator, seemed similarly gloomy about the prospects of securing a deal before the October deadline, saying: "Agreement is still possible, and it is still our goal, but it is clear that it will not be easy to achieve."

The two sides have remained entrenched in their positions, particularly on fisheries and the level-playing field, for many months.