Last ditch talks over dinner after UK PM Boris Johnson flew in to meet EU President Ursula von der Leyen to try and revive the stalled trade deal appear to have failed.

The latest deadline appears to be Sunday, when the EU meets to make a decision.

Business, wrong-footed and already reeling from COVID disruption is ill equipped to do anything in the few days left in 2020, beyond trying to work out where trailer loads of rotting food and German cars and going to be put if no deal is reached.

This will be the greatest trade dislocation since War was declared in 1939 if obdurate and pernickety politicians refuse to take some steps toward a transition in the hours left.

We talk with Emeritus Professor Clement Macintyre from the University of Adelaide and Professor Michelle Baddeley Associate Dean of Research at UTS Business School.

Photo: shutterstock_Alexandros Michailidis