The European Union has agreed to a post-Brexit Euro-British trade deal that will come into force on January 1, 2021.
The spokesman for Germany, which holds the EU presidency, Sebastian Fischer, said on Monday (Dec. 28): “The green light. EU ambassadors unanimously approved the provisional implementation of the EU-UK Trade and Cooperation Agreement (EU-UK Trade and Cooperation Agreement).”
The agreement, announced last Thursday, still needs to be retroactively approved by the European Parliament, which is expected around the end of February next year.
EU member states agreed to put the agreement into effect temporarily, allowing tariff-free trade between the EU and the UK to continue after the UK officially leaves the EU single market on Jan. 1.
EU ambassadors from 27 countries met in Brussels on Monday and agreed to the deal.
The British Parliament is expected to approve the trade deal on Wednesday.
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