The government is exploring a range of options to ensure continuity of effect for trade agreements if an agreement has not been ratified and brought into force in time. In the event of a no-deal EU Exit, EU trade agreements will cease to apply to the UK when it leaves the EU. Without arrangements to maintain preferences, trade will take place on World Trade Organisation (WTO) terms.
The UK is working with partner countries to bring into force bilateral agreements that will ensure continuity for the effects of exisiting EU trade agreements. But not all of these replacement agreements may be ready in time if the UK leaves the EU with no deal.