India Business Journal - UK, EU reach post-Brexit deal

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UK, EU reach post-Brexit deal

IBJ Bureau
Dec 31, 2020

The UK and the European Union (EU) struck a hard-fought trade agreement late last December. The deal, which must be ratified by the British and European Parliaments, came together in Brussels after 11 months of grinding negotiations, culminating in a last-minute haggle over fishing rights that stretched into Christmas Eve, just a week before the year-end deadline. The agreement ensures that most goods traded between the EU and UK will not face new tariffs or quotas. However, the deal will not prevent some disruption to trade across the English Channel, since British exports will still be subjected to some border checks, leading to higher costs and delays.