The Brexit Deal Agreement Summary: What You Need to Know
After years of negotiations, the United Kingdom and the European Union have finally reached a deal on Brexit. The agreement, which comes after several tumultuous years of political uncertainty, spells out the UK`s future relationship with the EU.
So what exactly does the Brexit deal agreement include? Here`s a summary of the key points:
1. Trade: The UK will have tariff-free trade with the EU, meaning that there will be no quotas or tariffs on goods traded between the two entities. However, there will be new customs formalities and checks, which will add some friction to trade.
2. Fishing: The UK will regain control of its waters, but EU boats will still be able to fish in UK waters for a transitional period of five and a half years. After that, the UK will be able to reduce EU access to its waters.
3. Security: The UK will no longer be part of the EU`s security and justice arrangements, such as the European Arrest Warrant. Instead, the two sides will need to agree on new arrangements for cooperation on security issues.
4. Services: The deal does not cover the services sector in the same depth as it does goods. However, the agreement provides a framework for future negotiations on this issue.
5. Northern Ireland: The agreement includes a protocol on Northern Ireland, which will see the region stay aligned with certain EU rules to avoid a hard border with the Republic of Ireland. This will involve some customs checks between Northern Ireland and Great Britain.
Overall, the Brexit deal agreement represents a compromise between the UK and the EU. While it is not perfect, it provides a basis for future cooperation between the two entities and avoids the chaos of a no-deal Brexit. It also provides some certainty for businesses and individuals who have been living with the uncertainty of Brexit for several years.
As the UK prepares to leave the EU on December 31, 2020, the Brexit deal agreement offers a path forward for both sides. While the details will need to be worked out in the coming months and years, the agreement provides a foundation for a new relationship between the UK and the EU.