British Prime Minister Boris Johnson has issued the starkest warning yet that the UK could be out of the EU on January 1, 2021, without a trade agreement in place as the two sides remain divided on key areas.

This comes after Johnson’s urgent talks with European Commission President Ursula von der Leyen in Brussels failed to break the logjam over the European Union (EU) fishing rights in UK territorial waters as a non-member and competition rules for businesses.