Cliff Notes – UK and EU agree Brexit reset trade deal
- The UK and EU have finalised a post-Brexit trade deal after extensive negotiations, addressing contentious issues including fishing rights, which will now allow EU access to UK waters for 12 years.
- The deal preserves current access levels for UK fishing communities and does not alter British fishing quotas, even as fishing rights remain a pivotal aspect of Brexit discussions.
- Future discussions are anticipated regarding defence, security, and a potential youth mobility scheme, while political leaders express a range of views on the deal’s implications for UK sovereignty and economic interests.
UK and EU agree Brexit reset trade deal
The UK and the EU have agreed a new post-Brexit reset trade deal after months of negotiations.
A UK government source said: “All in all, a good deal for all.”
The talks were the first since Boris Johnson agreed the initial Brexit deal in January 2020, when the UK left the EU.
Details of UK-EU deal emerge
Talks went “down to the wire”, with a breakthrough at about 10.30pm on Sunday ahead of a Monday 10am deadline, as UK fishing rights were, yet again, a major sticking point.
It’s understood that the EU wanted permanent access to UK waters for fishing, but they have agreed to access for 12 years.
There will be no change to the current access for UK fishing communities, with no reduction in British quotas or increase in the amount the EU is allowed to catch.
Fishing rights were a major part of the Brexit “leave” campaign, although fishing only accounts for 0.4% of GDP.