The United Kingdom and European Union have reached a post-Brexit trade agreement after months of fraught negotiations. The breakthrough averts a much-feared “no-deal” scenario that would have sparked economic chaos and risked major disruption to the flow of goods and medicines.
“Deal is done,” read the statement from Downing Street on Thursday afternoon — swiftly followed by confirmation from Brussels.
Speaking shortly after the announcement, Prime Minister Boris Johnson said the agreement was a “good deal” for the “whole of Europe” — one that signified “a new stability and a new certainty in what has sometimes been a fractious and difficult relationship.”
Echoing the nationalistic rhetoric that featured so prominently in the Brexit referendum campaign he said: “We’ve taken back control of our laws and our destiny…from January 1, we are outside the customs union and outside the single market; British laws will be made solely by the British parliament, interpreted by the UK judges sitting in UK courts; and the jurisdiction of the European Court of Justice will come to an end.”
Johnson claimed that the UK had achieved a “Canada-style” trade deal worth £660 billion (US $893 billion) and addressed the agreement on fisheries — a key point of contention in the negotiations – saying that the UK had taken back “full control” of its waters.
European Commission President Ursula von der Leyen, right, and European Commission’s Head of Task Force for Relations with the UK Michel Barnier speak after the deal was agreed in Brussels on Thursday.
The European Commission President Ursula von der Leyen agreed that the EU had struck a fair and balanced post-Brexit trade deal, but signaled that the bloc had the upper hand in the negotiations.
“As we knew, in any case, if there would have been a hard Brexit, it would not have been good for both sides, but it would have hit the United Kingdom harder than the European Union with all its might of 450 million citizens. And therefore, from a position of strength we were able to come forward with the most comprehensive agreement we’ve ever had,” von der Leyen said at a news conference.
Key points from the deal:
- Zero tariffs and quotas on goods
- The end of free movement, meaning UK citizens will no longer have the right to work, live, study, or start a business in the EU without a visa
- Border checks will apply between the UK and EU member states
- There will be no hard border on the island of Ireland between the Republic of Ireland and Northern Ireland
- The UK will be able to further develop British fishing activities for at least 5-and-a-half years, during which time European fishing communities will be safeguarded
- A shared commitment to protecting the environment, to fight against climate change and carbon pricing
- A shared commitment to protecting social and labor rights
- Keeping standards on tax transparency
- Passengers’ and workers’ rights in the transport sector
- The UK’s continued participation in a number of EU programs until 2027 such as Horizon Europe, subject to a UK financial contribution.
Now that a deal has been agreed, EU leaders, the European parliament, and the UK government will all need to now approve the agreement on their own.
The hefty legal text of the agreement will first be translated, reviewed and approved by all 27 EU member states, whose leaders largely welcomed the news.
French President Emmanuel Macron said that “European unity and firmness have paid off,” and called the agreement “essential.”
Ireland’s foreign minister Simon Coveney welcomed the fact that the Good Friday Agreement would be protected and said that it was a “fresh start” for UK relations.
Belgium’s Prime Minister Alexander de Croo said that the only thing that mattered to him was ensuring the best protection for Belgium’s economic interests. “We must protect our Belgian companies from unfair British competition. Initial reports seem to indicate that this agreement will give us this crucial guarantee,” he said.
