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Britain sealed a Brexit trade deal with the European Union on Thursday, just seven days before it leaves one of the world’s largest trading blocs

Reuters

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Britain sealed a Brexit trade deal with the European Union on Thursday , just seven days before it leaves one of the world’s largest trading blocs, in its most significant global turn since losing the empire.

The pact means a chaotic end to a tortuous divorce that has shaken up the 70-year project to forge European unity on the ruins of World War II was avoided.

“The deal is done,” said a Downing Street source. “We have regained control of our money, borders, laws, commerce and fishing waters.”

“We have achieved this great deal for the whole of the UK in record time and under extremely challenging conditions … all of our key red lines on the return of sovereignty have been met,” he added.

The president of the European Commission, √örsula von der Leyen, said that the agreement is fair, balanced and correct.

Although the last-minute pact avoids the bitterest end of divorce on January 1, the UK is heading for a much more distant relationship with its biggest business partner than almost anyone expected when the referendum was held in 2016.

The deal seemed imminent for almost a day, but the battle over how much fish EU vessels will be able to catch in British waters delayed the announcement of one of the most important trade deals in recent European history.

The United Kingdom officially left the European Union on January 31, but has since been in a transitional period in which the rules on trade, travel and business remained unchanged until the end of the year.

If the parties reached a zero-tariff and quota agreement, it will help smooth a flow of goods that accounts for half of their $ 900 billion in annual trade.

It will also strengthen peace in Northern Ireland, a priority for US President-elect Joe Biden, who has warned Johnson that he must abide by the 1998 Good Friday peace agreement.

Even with a deal, there are sure to be disruptions from January 1, when London ends its often strained 48-year relationship with a project led by the Franco-German axis that sought to unite the ruined nations of Europe into a global power. post-World War II Europe.

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