Breakthrough in Brexit trade deal, UK and EU finally seal agreement

The deal is done. pic.twitter.com/zzhvxOSeWz

— Boris Johnson (@BorisJohnson) December 24, 2020

Britain and the European Union reached a free-trade deal on Thursday, which should avert the economic chaos of New Year’s Eve and provide a measure of certainty for businesses after years of turmoil in the breeze.

Once signed by both parties, the deal would guarantee that Britain and the 27-nation bloc will continue to exchange products without tariffs or restrictions after the United Kingdom. Breaks fully free from the EU on Jan. 1.

The deal has been completed,” said British Prime Minister Boris Johnson, who said that the UK will remain Europe’s partner and “number one sector.”

“We have finally found an agreement,” said Ursula von der Leyen, President of the European Commission.

“It was a long and winding road, but we have a good deal at the end of it,” she said. “The single market will be fair and remain so.”

The EU Member States and the British and European Parliaments will need to vote on the deal, but resolution by the European body does not take place until after the break-up of 1 January. The British Parliament is due to vote on Dec. 30.

France, long seen as Britain’s toughest barrier to an arrangement, said that the uncanny steadfastness of the 27 nations with a wide spectrum of desires was a victory in itself.

It took months to decouple the economies of both sides and balance Britain’s need for democracy with the EU’s goal of maintaining its unity.