The United Kingdom and the European Union have reached a last-minute deal that will reshape their post-Brexit relationship. This historic agreement tackles multiple key issues, from fishing rights and trade to defence spending and climate action. Its ultimate goal is closer collaboration of the two groups while delivering greater economic prosperity to the UK.
The deal includes important provisions that would modernize commercial fishing access policies. The new regulations will set out how British and EU fishing fleets will be able to operate in each other’s waters. Customs and trade agreements have been updated to make transactions easier and more beneficial, allowing both countries to enjoy the fruits of profitable partnerships. Further, the agreement includes a significant dimension of defence cooperation, mirroring the commitment to cooperative and collaborative security.
One big move that affects British passport holders directly is the loss of access to any “EU/EEA/CH” lanes at EU border crossings. This change pushes UK travellers into normal lanes. As a consequence, they might need to endure increased wait times at borders. The agreement coordinates a common passport for pets traveling in the region. This amendment reduces a barrier to travel with pets by lifting the requirement for multiple veterinary certifications.
In a major step toward real sustainability, the UK and EU have committed to fully link their carbon markets. This link is intended to avoid imposing further taxes on highly carbon-intensive materials, like steel and cement. The UK introduced its own replaced the moment that the UK left the EU’s Carbon Border Adjustment Mechanism (CBAM). This move installed the UK as a global leader on regulating industrial carbon independently. The government projects that this agreement will save UK firms £800 million in tax. It will notably help the steel sector by protecting it from EU tariffs.
The UK-only agreement is reportedly valued at £25 million annually. That solid foundation will increase collaboration and spark job creation. With these new arrangements, both the UK and the EU are taking steps toward a more integrated approach to their post-Brexit relationship.