LONDON - Britain faces the prospect of breaking ties with its closest trading partner without a deal on Friday -- unless EU leaders agree on an alternative at a crucial summit on Wednesday.
In February, the government said just 40,000 of 240,000 businesses that trade only with EU nations had obtained the required customs clearance numbers.Britain will default to "third country" status with the EU, with trade relations run on World Trade Organisation rules. Britain has moved to open up new routes and increase links from other ports to ease the pressure on the most important, Dover.
Britain has suggested it may have to reimpose direct rule over Northern Ireland to manage a "no deal" situation, as the devolved government in Belfast has been suspended since January 2017 in a row between the two power-sharing parties.An estimated 3.5 million European citizens live in Britain, and around one million Brits are settled in the EU.
Ministers say the transportation of medicines will be prioritised and those with short shelf-lives, such as medical radioisotopes, could be flown in.Some stop-gap agreements have been reached on both sides including a one-year agreement to protect the massive financial derivatives market in London.
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