By Mukwuzi Joseph
Britain and the European Union have struck a provisional free-trade agreement that should avert New Year chaos for cross-border traders and bring a measure of certainty for businesses after years of Brexit turmoil.
With just over a week until the U.K.’s final split from the EU, the U.K. government said the “deal is done.”
British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen are expected to make statements imminently.
The deal should ensure the two sides can trade in goods without tariffs or quotas. But despite the breakthrough, key aspects of the future relationship between the 27-nation bloc and its former member remain uncertain.
The British and European parliaments both must hold votes on the agreement, though the latter may not happen until after the U.K. leaves the EU’s economic embrace on Jan. 1.