Former Brexit Secretary David Davis has said he is hopeful Britain will strike a trade deal with the European Union before the end of the transition period.
Speaking with talkRADIO’s Julia Hartley-Brewer, Mr Davis said the UK’s chief negotiator David Frost was doing “exactly the right thing.”
“There was always going to be a point in this exercise in which there was going to be a crisis moment - that's what negotiations are like,” the Conservative MP said.
He added: “The simple truth is that at some point the Europeans are going to have to face reality, and reality for them is that the whole world economy is now on its back.
“You would have to be certifiably mad to impose tariffs and quotas under these circumstances.”
Although the UK officially left the EU on January 31 this year, it will remain aligned to the bloc until the end of 2020 while negotiators attempt to reach a trade deal.
Current sticking points include the EU's demands for access to British fishing waters and its call for Britain to continue following level playing field arrangements, which would tie the UK to certain EU standards.
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