In other words: "Sure, you can go ahead and try and negotiate new trade agreements to replace all the ones you've just shredded by passing Brexit Day, but they can't actually come into force yet."
Because, during transition (and the backstop period, if activated) things will
They could be worse. Time will tell. But they *can't* be better. The quoted paragraph sees to that.
The alternative was flagged by Theresa May in her press statement yesterday: "or no Brexit at all"
Makes you think...
gov.uk/government/spe…