On Christmas Eve 2020, less than a year after the UK formally left the EU and a mere eight days before the agreed transition period ended, the EU and UK reached agreement on future trade and cooperation. The EU-UK Trade and Cooperation Agreement, in effect since 1 January 2021, is comprehensive and its conclusion in just eleven months is quite an achievement. Nonetheless, while a “no deal Brexit” has been averted, the consequences of the UK’s departure remain profound and the impact of a transition from an internal market to a regime under the agreement is significant.
In this briefing, we outline some of the effects the agreement will have on a number of practice areas and look ahead to what could be expected further. You can download the briefing by clicking on the image below.