However, Fox told the Sunday Times that it was "essential" to have no deal as an option to increase the UK's negotiating leverage.
"The Government's policy is to get a deal and that chimes entirely with what I think is in the best interests of our country", he told BBC Radio 4's Westminster Hour.
He blamed the intransigence of the Brussels machine for the increasing risk of no deal.
The most likely outcome of the Brexit process is leaving without a deal, according to worldwide trade secretary Liam Fox, amid growing concerns of a chaotic departure from the EU.
Fox put the chances of a no-deal Brexit at "60-40" on Sunday despite both sides saying they wanted to reach an agreement on the terms of the UK's departure from the bloc in March 2019.
Adam Marshall, the director general of the British Chambers of Commerce, said: "Government needs to show that it's doing everything within the UK's control so that businesses know what they would need to deal with on day one".
Fox accused European Union officials of putting a "theological obsession" with sticking to the rules ahead of "the economic wellbeing of the people of Europe".
He said that Barnier had rejected Prime Minister Theresa May's latest plan, agreed by her cabinet, on the grounds that "we have never done it before".
Kim Kardashian hates her daughter Chicago's name
The 37-year-old added that she has chose to give Chi, pronounced "shy", a middle name, which Kanye apparently hates. The couple's older children, North West and Saint West , will just have to deal with having one name.
"It's up to the EU 27 to determine whether they want the EU Commission's ideological purity to be maintained at the expense of their real economies".
But he said that the United Kingdom financial system was robust and could withstand any post-Brexit shocks.
Conservative politician Jacob Rees-Mogg, who heads the pro-Brexit European Research Group of Conservative MPs, responded to Carney's warning, saying: "Mark Carney has always been the high priest of Project Fear, whose reputation for inaccurate and politically motivated forecasting has damaged the reputation of the Bank of England".
Meanwhile, another prominent Brexiteer, former minister Priti Patel, has called on Mrs May to have the "backbone and confidence" to back Britain in the negotiations with the EU.
A Downing Street spokesman said today: "We are urging Brussels and the nations of the EU27 engage with the Brexit white paper and make sure we avoid a no deal Brexit".
Writing for the Telegraph website she said it did not meet the result of the referendum and "will leave us half-in and half-out, still bound to European Union regulations and constraints".
Supporters of Brexit say there may be some short-term pain for Britain's $2.9 trillion economy, but that long-term it will prosper when cut free from the EU, which some of them cast as a failing German-dominated experiment in European integration.