Throwing overboard Sunday's self-imposed deadline, the European Union and Britain said they will "go the extra mile" to clinch a post-Brexit trade agreement that would avert New Year's chaos and cost for cross-border commerce.

British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen had set Sunday as the deadline for a breakthrough or breakdown in talks. But they stepped back from the brink because there was too much at stake not to make an ultimate push.