UK Publishes it’s First Brexit Trade Deal

My1sttoday: UK publishes it’s first Brexit trade deal. On Saturday, United Kingdom published the trade deal it reached with the European Union to facilitate its break from the bloc, revealing for the first time details of the agreement that both sides agreed on earlier this week.

The 1,246-page trade document covers an array of trade issues as well as accords on topics such as nuclear energy and exchanges of intelligence. It primarily means that upon leaving the EU, the U.K. will not face any tariffs or quotas in its trading relationship with its continental neighbors.

UK Publishes it's First Brexit Trade Deal
UK Brexit Deal With EU/Getty Images

As part of the deal, the U.K. will be forced to subscribe to “level playing field” principles to ensure that EU trading partners do not have an advantage over the continent by receiving state aid or implementing more lax environmental or labor regulations. British goods will also still have to face regulatory checks at the border.

The two sides first announced the trade deal earlier last week, hailing it as a good agreement following months of at time tense negotiations. The agreement helps prevent a “hard” Brexit before the U.K.’s formal break in January, which would have caused widespread disruptions across Europe.

The deal was presented to European ministers Friday, and it will have to be ratified by the European and British parliaments.

“We have finally found an agreement. It was a long and winding road, but we have got a good deal to show for it. It is fair, it is a balanced deal, and it is the right and responsible thing to do for both sides,” European Commission President Ursula von der Leyen said at a press conference on Thursday.

The deal allows each side to use an independent subsidy control adjudicator to settle any disputes.

UK Publishes it's First Brexit Trade Deal
UK Brexit Exist/Getty Images

The deal was presented to European ministers Friday, and it will have to be ratified by the European and British parliaments.

“We have finally found an agreement. It was a long and winding road, but we have got a good deal to show for it. It is fair, it is a balanced deal, and it is the right and responsible thing to do for both sides,” European Commission President Ursula von der Leyen said at a press conference on Thursday.

The deal allows each side to use an independent subsidy control adjudicator to settle any disputes.

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