EU-UK trade talk:Will the Sunday be the decision day?

Britain’s foreign minister said Thursday that negotiations on a trade deal with the European Union will reach a “moment of finality” this weekend, with both sides assessing chances of an agreement as slim.To prepare for a possible no-deal exit on January 1, the EU has  proposed four contingency measures to make sure air and road traffic can continue as smoothly as possible for the next six months.

It also proposes that fishermen will still have access to each others waters for up to a year, to limit the commercial damage of a no-deal split. The plans depend on the UK offering similar initiatives. “Our responsibility is to be prepared for all eventualities,” European Commission President Ursula von der Leyen said. Von der Leyen and UK Prime Minister Boris Johnson held a three-hour dinner meeting Wednesday in hope of unblocking stalled talks, but came away without making substantial progress.“We understand each other’s positions. They remain far apart,” von der Leyen said. They told their negotiators to keep talking, but set Sunday as decision day.

UK Foreign Secretary Dominic Raab said the Sunday deadline set by Britain and the EU for a decision was final — though he added “you can never say never entirely.” Without a deal, the bloc and Britain face a tumultuous no-deal split at the end of the month, threatening hundreds of thousands of jobs and billions in losses. Britain left the EU on January 31, but remains in its economic structures until the end of the year. Months of trade talks have failed to bridge the gaps on three issues — fishing rights, fair-competition rules and the governance of future disputes.