A "no deal" situation typically refers to a scenario where two parties fail to reach an agreement, often in the context of negotiations. This can occur in various fields, such as trade, politics, or business. For example, in the context of Brexit, a "no deal" outcome would mean that the United Kingdom leaves the European Union without any formal agreement on the terms of their future relationship. In a "no deal" scenario, the absence of an agreement can lead to uncertainty and potential disruptions. For instance, businesses may face tariffs or trade barriers, and individuals might experience changes in travel or residency rights. Overall, a "no deal" situation can have significant implications for all parties involved.