After months of negotiations, Britain and the European Union have finally reached a post-Brexit trade deal.
The deal is done. pic.twitter.com/zzhvxOSeWz
— Boris Johnson (@BorisJohnson) December 24, 2020
The details of the pact have not been revealed yet, however, the Prime Minister of the UK Boris Johnson has stated that they finally have full authority over their laws and regulations. He also added that the deal would be great for Europe as well.
The UK left the EU a year ago and has now also left the trading rules of the EU. This will result in both parties having distinct markets. It is a great source of comfort for British businesses, already struggling through the effects of the pandemic as they will no longer have to be concerned about tariffs and taxes across the channel.
European Commission President, Ursula von der Leyen also spoke on the deal, saying that even though it took time, the deal was fair and just in the end. She continued to add that the UK will still be considered as a trusted partner in the eyes of the EU.
Johnson has also explained that the deal would allow the UK to sell its products in the European market without the imposition of quotas or tariffs. They will also be able to protect the jobs of British citizens more firmly.
Labour leader Sir Keir Starmer stated that even though he did not agree with the deal, he would be voting in favor of it because there was no time left for further negotiations. The only other choice they had was no deal and that’s a choice few were interested in.
The fisheries of the UK are taking the brunt of the deal, and a representative from the industry has expressed that fishermen will be very frustrated with the concessions the UK has decided to make.
The First Minister of Wales is of the view that this situation is better than no deal. The Irish Prime Minister has a positive reaction to the deal while Scotland’s First Minister has stated that they are completely against Brexit.
The UK will also not be participating in the Erasmus student exchange program because according to Johnson, the scheme is very costly to the host country. They will be providing another program for students hoping to study in Britain.
On 30th December, the UK Parliament will be voting on the deal. The authorization will also be required by the European Parliament before the deal can move forward.