The UK's selective approach and its willingness to take advantage mainly of the large European market - what the term cherry-picking implies in English - could have set a bad precedent, undermining the logic of the European integration process. It was extremely important to apply the principle of achieving the right balance between rights and obligations. I think the last thing both sides wanted was to trade under the rules of the World Trade Organisation, says Ingrid Shikova, professor in EU policies, in an interview to EUROPOST.

The post-Brexit trade bill has received the royal assent from Queen Elizabeth II, Commons Speaker Lindsay Hoyle said in the early hours of Thursday, meaning it is now officially law in Britain, dpa reported.

European Union’s top officials on Wednesday formally signed the long and tough fought-over post-Brexit trade deal with the United Kingdom. The formal sealing of the document paves the way for normal trade relations between Britain and the European Union, AP reported. British House of Commons also approved Prime Minister Boris Johnson’s post-Brexit trade deal with the European Union on Wednesday, as both sides looked to begin a new chapter of relations just days before their divorce becomes a reality.

Brexit offers Britain a chance to do things differently in financial services, finance minister Rishi Sunak said on Sunday, but the UK will co-operate with the European Union on an approach to the sector despite little detail on the topic in its trade deal, Reuters reported.

The post-Brexit trade deal reached by the United Kingdom and the European Union goes beyond the EU’s so-called “Canada-style” trade accord, Reuters reported, citing BBC that obtained on Friday what it said was a full copy of the accord.

Britain and the European Union have still not clinched a Brexit trade deal as serious issues remain unresolved that prevent PM Boris Johnson signing up, a British minister said on Wednesday, cited by Reuters.

The EU is considering a fresh proposal on fishing rights from the UK as PM Boris Johnson aims to secure an 11th-hour trade deal. The latest suggestion from Britain would see the EU reduce the value of the fish it catches in UK waters by about a third. Last week the UK was insisting the EU accept a 60% cut.

Post-Brexit trade talks are continuing on Monday after negotiators failed to reach an agreement over the weekend, news wires reported. Michel Barnier and David Frost met in Brussels on Sunday, but key issues remain unresolved. The European Parliament said talks needed to have ended on Sunday in order for it to ratify a deal by 31 December.

UK has called the European Union to retreat from current positions in order to finalize the Brexit related trade deal, Reuters reported. The two parties has remained on their positions related to few argumentative issues with deadline for the talks critically approaching, UK health minister Matt Hancock repeated Britain’s calls for the European Union to shift its position on Sunday and withdraw its “unreasonable demands” for the two sides to be able to seal a post-Brexit trade deal.

British cabinet minister Michael Gove said today the chances of the UK and EU agreeing a post-Brexit trade deal are "less than 50%", the BBC reported. Earlier, the EU's chief negotiator, Michel Barnier, tweeted "good progress" had been made on a deal. But Gove told British MPs "regrettably the chances are more likely we won't secure an agreement".