The U.K. and the EU finally announced they had struck a deal governing their future trade relations Thursday, after months of missed deadlines and stalled discussions.
The deal will avoid tariffs when the Brexit transition period ends on December 31 and will be a boost to U.K. Prime Minister Boris Johnson and EU leaders, all of whom were anxious not to be blamed if the U.K. crashed out without some kind of agreement.
“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 and it is a balanced deal,†European Commission President Ursula von der Leyen told a news conference.
Prime Minister Boris Johnson said during a Downing Street press conference that “the British people knew it was doable but were told it was impossible.â€
“We have taken back control of every jot and tittle of our regulation in a way that is complete and unfettered,†he said.
The deal must now be approved by all 27 EU countries, as well as by the U.K. and European Parliament, though given time is so tight the European Parliament will vote on the agreement retrospectively after it comes into force on January 1. British MPs are expected to vote on the deal next week, although given Johnson’s large majority in the House of Commons, he is not expected to face significant opposition.
Follow along as reaction comes in from across the Continent.
