CNBC reports that EU Chief Negotiator Michel Barnier warned that the U.K. and the EU are running out of time to agree terms on a post-Brexit trading arrangement.

Both sides have offered conflicting messages in recent days over the likelihood of a trade deal being agreed before Britain departs the EU’s orbit in two weeks’ time.

Barnier said negotiations had reached “the moment of truth.”

“We have little time remaining, just a few hours, to work through these negotiations in a useful fashion if we want the agreement to enter into force on the 1st January,” Barner said.

“There is a chance of getting an agreement but the path to such an agreement is very narrow.”