The Trade and Cooperation Agreement with the EU

On 24 December the UK agreed a Trade and Cooperation Agreement with the EU. This was signed into law on 30 December 2020.

The United Kingdom and the European Union have agreed to no tariffs or quotas on the movement of goods between the UK and the EU.

The Agreement also includes provisions to support trade in services (including financial services and legal services). This will provide many UK service suppliers with legal guarantees that they will not face barriers to trade when selling into the EU and will support the mobility of UK professionals who will continue to do business across the EU.

The Agreement recognises UK sovereignty over fishing waters and puts the UK in a position to rebuild its fishing fleet and increase quotas in the next few years.

The Agreement ensures streamlined co-operation on law enforcement.

The Agreement is based on international law, not EU law. There is no role for the European Court of Justice and no requirements for the UK to continue following EU law.

This Agreement ends the EU State Aid regime in Great Britain and allows the UK to introduce its own modern subsidy system to better support businesses to grow and thrive in a way that best suits the interests of British industries.

The Agreement also includes arrangements for airlines and hauliers that provides them with certainty and gives people the ability to travel to and from the EU easily. It also includes a social security agreement that has practical benefits for UK citizens including accessing healthcare when travelling in the EU; agreements on energy provision which will benefit consumers; and collaboration on scientific research.

You can access a summary of the Agreement here, and all the Agreement documentation here.