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“Has a bill been drafted?” he said. “Is the agreement fully negotiated? Trudeau has said he wants a seamless transition but that’s easier said than done and the closer you get to that March 29 deadline, the harder it is to put together.”

Photo by Ben Stansall/AFP/Getty Images

The U.K.’s high commissioner said she is “as confident as I can be,” that the deal will be ready in time.

“On both sides of the Atlantic we know what we need to do to make sure this is in place,” she said, adding it would only come into play in the case of a hard Brexit in March.

When we talk about trade diversification, the U.K. (is) very important to us, so this whole process is quite consequential Mark Agnew, director, international trade policy, Canadian Chamber of Commerce

If Britain manages to negotiate a deal that includes an orderly transition period, trade would continue under the terms of CETA until Britain has formally left the bloc. At this point the U.K. would be free to negotiate a new free trade agreement with Canada that would include elements “we both might like,” she said.

In a statement, a spokesperson for Global Affairs Canada said Canada and the U.K. are having “technical discussions on ways to maintain preferential market access in the case of a ‘no-deal’ Brexit, while recognizing the U.K.’s lack of jurisdiction to negotiate an FTA while it remains a member of the EU.”

The overwhelming rejection of May’s deal has thrown the Brexit process into disarray, with little certainty as to whether it will push the U.K. into a hard break with the EU, trigger an election or lead to a repeat referendum that could overturn the leave mandate.

May has indicated that she will appeal to the European Union in Brussels for more concessions — though the bloc has so far refused further negotiations. Lawmakers will vote Wednesday on a no-confidence motion in her government.