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A Brexit trade deal at last: EU and UK clinch narrow accord

Published 12/24/2020, 09:55 AM
Updated 12/24/2020, 09:55 AM
© Reuters. FILE PHOTO: EU Commission President von der Leyen and British PM Johnson meet in Brussels

LONDON (Reuters) -Britain clinched a Brexit trade deal with the European Union on Thursday, just seven days before it exits one of the world's biggest trading blocs in its most significant global shift since the loss of empire.

"Deal is done," a Downing Street source said. "We have taken back control of our money, borders, laws, trade and our fishing waters."

"The deal is fantastic news for families and businesses in every part of the UK. We have signed the first free trade agreement based on zero tariffs and zero quotas that has ever been achieved with the EU," the source said.

"We have delivered this great deal for the entire United Kingdom in record time, and under extremely challenging conditions, which protects the integrity of our internal market and Northern Ireland’s place within it," the source said.

The deal guarantees Britain is no longer in the lunar pull of the EU and will not be bound by EU rules, the source said.

"There is no role for the European Court of Justice and all of our key red lines about returning sovereignty have been achieved," the source said.

Trade worth 668 billion pounds ($909 billion) in 2019 is covered by the deal, the source said.

© Reuters. FILE PHOTO: EU Commission President von der Leyen and British PM Johnson meet in Brussels

($1 = 0.7348 pounds)

Latest comments

it was the biggest scam for british history we all have to pay later
What is the expectation for the pounds?
funny both eu and uk claim it is a good deal... so means it *****for both
Most of EU export are manufatured and agricultural goods these are.. no tariff. 80% of UK exports are services and financial service these are not part of free trade and can still be regulated but the EU so who do you think wins?
UK is going to bankruptcy
They earned back monetary sovereignty... that’s the opposite of going bankruptcy. And soon Italy as well
They have ZERO sovereignty, their export are 80% services mostly financial services and those are not part of the free trade deal and can be regulated, while manufactured and agricultural goods from the EU can enter without any tariffs in the UK... Germany and France can still sell cars, cereal etc while the UK banks can't operated as normal. Johnson FOLDED
Forex says deal favors eu?
It does, agricultural goods, cars etc that the EU exports have...no tarrifs. But services and financial services that are 80% of the UK export are not part of the free trade and regulated by the EU.
i think there so much going on the forex cant factor in all of it. Im gocing with the GBP skyrocketing...... GBP was always a very strong currency and will remain so!
I don't trust a word of this article, there was no benefit for EU to strike such a deal as it would completely destroy the EU stability. I would love to read the "small print"
don't get ahead of yourself. the devil is always in the details. I hope it is a good deal for all parties but I'm not confident that it is
such a deal can't be good for both. Somebody has to suffer.
What does this deal impact on GPB currency value??
up
Nothing unexpected
The deal is fantastic news for families and businesses in every part of the UK
Actually it is a horrible deal,
Most Awaited Deal
They should remove the england football teams from UEFA now as well
so now , Britain will have their own currency, own borders rules, , own business agreement, own culture, and their very own enemies.good ....
so now , Britain will have their own currency, own borders rules, , own business agreement, own culture, and their very own enemies.good ....
UK always had their own currency....
He can't read...
Why the heck is gbp diving
liquidity is sparse below
Or deal not so good for 🇬🇧
Hey! The announcement of the deal could push gbp up, but there is also new strain of covid in the UK, plus new stimulus package in the USA makes traders think twice
So, Now pound will increases?
Who care? 5years? Okayyy! Merry Christmas!
History has been made
Waiting from Long time
Good
Godbless
hi
sitharo19900
hi
hi
hi
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