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The UK and the EU Strike Brexit Transition Deal

: General

EU and the UK Agree to Draft Terms for a Brexit Transition Period Ending on December 31, 2020 2018-03-26

The UK has reached a joint agreement with the EU on the legal terms of a Brexit transition deal. On March 19, 2018, David Davis (Secretary of State for Exiting the European Union) and Michel Barnier (European Chief Negotiator) issued a joint press release announcing that the UK and the EU had agreed on a significant number of provisions that will make up the agreement on the UK’s withdrawal from the EU. 
Consensus has been reached that the UK will receive full benefit of the EU single market and remain part of the customs union up until the end of the transition period, which is set to end on December 31, 2020.  As a consequence, no customs border enforcement or the imposition of trade barriers will be implemented until that date.
The joint agreement includes the terms for a 21-month transition period after Brexit, which is scheduled to happen on March 29, 2019. The draft agreement also confirms that the UK may sign trade deals with other nations, as long as they don't come into force until the end of the transition period.
For more information, please click on the following links: 
Source: European Commission


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