The EU-UK Trade and Cooperation Agreement (FTA) is a free trade agreement between the European Union (EU), the European Atomic Energy Community (Euratom) and the United Kingdom (UK) signed on 30 December 2020. It will be provisionally applied from 1 January 2021, the date of the end of the Brexit transition period[1],[2], and extended until 30 April 2021. [3] In the field of energy, there will be regulatory and technical cooperation[30] and a reaffirmation of the climate objectives of the Paris Agreement. [29] However, the UK is no longer part of the EU energy market and emissions trading scheme. [29] The United Kingdom has concluded a separate agreement with Euratom on peaceful cooperation in the field of nuclear technology[32], which has not entered into force. The agreement covers not only trade in goods and services, but also a wide range of other areas in the EU`s interest, such as investment, competition, state aid, tax transparency, air and road transport, energy and sustainability, fisheries, data protection and systemic security coordination. Financial Times. “The Brexit trade deal explained: the most important parts of the historic deal.” Consulted on December 28, 2020, Prime Minister Boris Johnson said the ATT would allow the UK to “regain control of our laws, borders, money, trade and fisheries” and change the basis of EU-UK relations “from the EU`s right to free trade and friendly cooperation”. [41] Opposition leader Sir Keir Starmer said his Labour Party would support the ATT because the alternative would be a no-deal Brexit, but that his party would seek to strengthen labour and environmental protection in parliament. Nevertheless, many members of his party rejected the agreement. [42] The Scottish National Party rejected the ATT because of the economic damage that leaving the single market would cause Scotland. [43] All other opposition parties rejected the ATT.
[44] The parties did not reach an agreement on the mutual recognition of product standards. This could mean that some products will have to obtain two certifications, i.e. under both the export and import regimes. These requirements will result in additional costs and delays at borders, which will be difficult for agriculture and animal products, as well as for industries with just-in-time supply chains. Part 3 of the bill deals with general implementation. It has two key elements. First, it creates sweeping powers for the UK government and decentralised authorities to legislate to implement the agreements. These provisions can do everything that primary law can do, subject to certain restrictions (powers of Henry VIII). Second, to the extent that the government or decentralised authorities have not taken steps to implement the agreements, there is a general provision that all existing national legislation will be amended to ensure that the UK fulfils its obligations under the ATT and SCIA. Although the amendments do not appear in the text of the law, the courts will have to treat the law as if it had been amended. This provision shall not apply to national legislation adopted or adopted after the provisional application of the Agreements. While it cannot compete with the level of economic integration that existed at the time of the UK`s EU member states, the Trade and Cooperation Agreement goes beyond traditional free trade agreements and provides a solid basis for maintaining our long-standing friendship and cooperation.
Trade in goods between the EU and the UK is not subject to tariffs or quotas. Dealers may certify compliance with the agreed rules of origin themselves. However, following the withdrawal of the United Kingdom from the customs territory of the EU, customs formalities between the two parties are required and VAT and certain other customs duties are charged on importation. [29] There are provisions to limit technical barriers to trade (TBT) that build on the WTO TBT Agreement. [30] Boris Johnson`s British government has pursued the desire to trade freely with the EU while being subject to as few European regulations as possible and, in particular, not to the jurisdiction of the European Court of Justice. [12] For its part, the EU insisted that the price of the UK`s access to the EUROPEAN single market was compliance with EU subsidies, social, environmental and other rules in order to avoid distortions of competition in the Single Market. [12] Another important point of contention was fishing. Part of the brexit spurt has been Britain`s desire to regain full control of its fishing waters, while EU coastal states have demanded to retain all or most of the fishing rights they enjoy under the EU`s Common Fisheries Policy. [12] The agreement stipulates that trade between the UK and the EU is not subject to tariffs or quotas. The goods must originate in the EU or the United Kingdom to benefit from the free trade regime.
However, regulatory bureaucracy and border controls will affect more than $590 billion in annual merchandise trade between the UK and EU member states. It is estimated that these other non-tariff barriers will increase costs by around £17 billion (around £23 billion) for UK businesses and around £14 billion a year for EU businesses. Nuffield Trust, Brexit deal reduces uncertainty for health and care, but major challenges remain, 24 December 2020 Parts 1 and 2 of the bill implement parts of the agreements. also in the areas of security, trade, transport and social security. This is done by amending parts of UK law, creating powers for regulation and, in the case of social security, directly incorporating parts of the ATT into UK law. .