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► Brexit Withdrawal Agreement Implementation Period - HYPESOUL

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HYPESOUL
HYPESOUL

The United Kingdom (United Kingdom) left the European Union (EU) on 31 January 2020. A transitional period is now in effect until 31 December 2020. During this period, the UK will have to comply with all EU rules and legislation. For businesses and the public, virtually nothing will change. After the transition period, there will be changes, whether or not an agreement is reached on the new relationship between the UK and the EU. The EU-27 (with the exception of the UK) notes that sufficient progress has been made in Phase 1. This means that phase 2 of the negotiations can begin. In Phase 2, the EU and the UK continue to negotiate the withdrawal agreement. But they are also beginning to discuss a transition period and explore their future relationship. The withdrawal agreement provides for a transitional period until 31 December 2020, during which time the UK will remain in the internal market, to ensure the smooth flow of trade until a long-term relationship is concluded. If no agreement is reached by then, the UK will leave the single market without a trade deal on 1 January 2021. The withdrawal agreement is closely linked to a non-binding political declaration on future relations between the EU and the UK.

However, the EU wants a comprehensive agreement covering all aspects of future relations, while the UK argues that there should be a number of separate agreements, including a basic free trade agreement. This triggered Article 50 of the Treaty on the European Union, which defines the procedure for the withdrawal of an EU member state, thus opening a two-year countdown to withdrawal. The reception of the agreement in the House of Commons ranged from cold to hostile, and the vote was delayed by more than a month. Prime Minister May has received a motion of no confidence within her own party, but the EU has refused to accept further changes. 98.In with respect to fisheries and negotiation and the Agreement on Eligible Catch Totals (TACs) under the Common Fisheries Policy, the United Kingdom is “consulted on fishing opportunities related to the United Kingdom”101 and may provide feedback to the Commission before preparing its annual communication on fishing opportunities.102 113.The previous government has the option of extending the transition period as an “insurance policy” , in the case of negotiations on future relations, will not be completed by the end of 2020.

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