As of December 2020, a Brexit agreement has been reached between the United Kingdom (UK) and the European Union (EU). This comes after years of negotiations, discussions, and disagreements regarding the UK`s departure from the EU, commonly referred to as Brexit.
The agreement, formally known as the Trade and Cooperation Agreement, was finalized on December 24, 2020, just days before the UK was set to fully exit the EU under a “no-deal” scenario. The agreement outlines the terms of the UK`s future relationship with the EU in areas such as trade, security, and other key issues.
One of the crucial points in the agreement is the avoidance of tariffs and quotas on goods traded between the UK and the EU. This means that, while the UK is no longer a member of the EU, the two entities will continue to maintain a close economic relationship. The agreement also includes provisions for security collaboration and cooperation, as well as provisions for mobility and immigration.
However, it is important to note that the Brexit agreement does not cover all aspects of the UK`s relationship with the EU. For example, there is still no agreement in place regarding financial services, which is a critical issue for both the UK and the EU. Additionally, the agreement is subject to ongoing discussions and negotiations, and certain aspects may still be revised or renegotiated in the future.
Overall, while a Brexit agreement has been reached, the UK`s departure from the EU remains a complex and ongoing process. The Trade and Cooperation Agreement provides a framework for the UK and the EU to move forward in a cooperative manner, but there are still important issues that need to be addressed in the months and years to come.