Sabine Tyldesley and Tiffany Burrows look at the negotiations between the United Kingdom and the European Union which kicked off earlier this week. The UK has just shy of nine months to negotiate a trade deal. EU officials have confirmed any deal must be finalised, translated and presented to the European Parliament by 26 November if it is to be ratified by the end of the year.
Whilst the UK left the EU on 31st January, the transition period – a standstill period during which trading conditions remain the same as before – is due to end on 31st December this year, at which point the UK would begin to trade under World Trade Organisation (WTO) terms in the absence of an agreement between the UK and EU27 on its future trading relationship. The UK will also be leaving the Single Market and the Customs Union.
For those expecting the UK’s exit from the EU to signal the end of the domination of Brexit in Westminster, the news, and lobbying, think again.
Between now and the end of the year there will be wranglings on politics vs practicalities, debate on the UK’s negotiating position and how much we might be able to soften the EU’s negotiating position alongside agonising over whether we will have a deal or trade on WTO terms having failed to secure one.
Our Briefing explains the detail behind the drama.
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