Inside the Brexit Deal the Agreement and the Aftermath

Inside the Brexit Deal: The Agreement and the Aftermath

The long-awaited Brexit deal is finally here, and it has been the subject of much debate and speculation. While some hail it as a victory for British sovereignty, others see it as a blow to the UK`s economy and global standing. Regardless of one`s views on the deal, it is important to understand what it entails and what its consequences are likely to be.

The Agreement

The Brexit deal, officially known as the Trade and Cooperation Agreement (TCA), was struck between the UK and the European Union (EU) on December 24, 2020. It covers a wide range of issues, from trade and fishing to security and travel. Here are some of its key provisions:

Trade: The TCA ensures tariff-free and quota-free trade in goods between the UK and the EU, meaning that goods can be traded without any extra taxes or limits on how much can be traded. However, some sectors, such as fisheries and services, are subject to new rules and regulations.

Fishing: The UK will regain control of its waters, meaning that EU boats will have to give up some of their fishing rights in UK waters. However, this will be phased in over a five-and-a-half-year period, during which the UK and EU will negotiate annual catch limits and quotas.

Travel: UK citizens will no longer have the right to live, work, or study in the EU without a visa or permit. Similarly, EU citizens will need a visa to come to the UK for stays longer than 90 days. However, there are some exemptions for certain occupations and categories of people.

Security: The TCA includes provisions on law enforcement and security cooperation, such as the exchange of information and cooperation on cross-border crime. However, the UK has lost access to certain EU databases and programs, such as the European Arrest Warrant.

The Aftermath

The aftermath of the Brexit deal has been mixed, to say the least. On the one hand, the deal has provided some much-needed clarity and stability for businesses and individuals who were uncertain about the future. On the other hand, it has created new barriers and challenges that will take time to overcome.

One of the biggest challenges is the impact on trade. While the TCA ensures tariff-free and quota-free trade in goods, there are still new customs checks and paperwork to contend with, which are causing delays and disruptions at the border. This has led to some shortages and price increases for certain goods, such as fresh produce and seafood.

Another challenge is the impact on the UK`s economy. While the deal provides some level of protection for key sectors, such as automotive and aerospace, there are concerns that the loss of access to the EU single market will harm the UK`s overall economic performance in the long run. In addition, some businesses have already started to move operations and jobs to the EU in order to maintain access to the market.

There are also concerns about the impact on UK citizens. While the TCA provides some protections for UK nationals living in the EU, there are still uncertainties and complications around issues such as healthcare and residency. Similarly, EU citizens living in the UK face new rules and restrictions that could make their lives more difficult.

Conclusion

The Brexit deal is a complex and multifaceted agreement that will have far-reaching consequences for the UK and the EU. While it provides some level of certainty and stability, there are also new challenges and uncertainties to contend with. The true impact of the deal will depend on how well it is implemented and how both sides adapt to the new reality.

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