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The Brexit transition period is over and Britain officially leaves the European Union, ending its 47-year membership in the EU. Britain also became the first member state to leave the European Union.According to BBC reports, the British government declared that it is ready for its “new starting point” and will withdraw from EU trade rules at 23:00 local time on December 31 (7:00 the next day , Beijing time). Officials said the new border system was “ready.”
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The trade agreement between the two parties avoided the import tariffs that many companies worried about. However, there will still be major changes in regulations regarding tourism, immigration, business, living and working abroad, and fighting crime and security.
To reduce the risk of deferral, the UK will reportedly gradually inspect cargo entering the UK from continental Europe in the six months ending July 2021. However, some new UK customs procedures will enter into effective immediately after 23:00, such as the importation of alcohol, tobacco, chemical products and controlled drugs. EU member states will implement comprehensive customs declarations and other controls on UK exports starting at 11pm.
After two negotiations (withdrawal agreement and future relationship agreement) that lasted more than four years and two agreements were reached, the general situation has been determined. Many changes will appear after January 1, 2021.
Trade: zero quotas, zero tariffs
This is the core of the agreement reached on December 24. The European Union grants all British products the privilege of entering the single European market without tariffs or quotas, an unprecedented privilege. 46% of UK exports go to continental Europe. As a result, these export products will enter the European market without additional costs. European exports of British products enjoy the same treatment. Industries like aerospace, automotive and agricultural processing that have chosen the UK as their preferred market breathe a sigh of relief.
Fee refund
However, not everything is as simple as before. Michel Barnier stressed that “there will be real changes. This is the consequence of Brexit.” Because Brexit is equivalent to the return of tariffs that were canceled in 1993. The import and export declaration will be the rule of all transactions. Administrative expenses can increase product prices. When customs needs to verify the documents of each customs truck at a minimum, the liquidity of the trade will obviously suffer. The supervision of agricultural products will also be meticulous. A European source noted: “Any live animal that enters the EU territory must be individually quarantined by a veterinarian.”
Fair competition
For Europeans, avoiding all fiscal and social dumping is a red line. If there are too serious differences in regulations (environment, labor rights, taxes, etc.), the other party may choose to impose tariffs in retaliation. If a European company believes that it is facing competition from a British competitor in a suspicious way for government subsidies, it can seek help from the judiciary or the European Commission.
Are fishing quotas reduced by 25%?
As a stumbling block that brought the negotiations to the brink of failure, all the games revolved around the percentage of fish that the EU handed over to Britain. European fishermen need to gradually reduce their catch in British waters, which according to the European Commission proposal will be cut by 25% by June 2026. Michel Barnier said there will be “more cuts” after this. After 2026, negotiations on the division of fishing waters will take place every year. There is a risk that the UK will reject it entirely. However, the European Commission promised that safeguards have been written into the agreement document.
Financial City lose its edge?
Neither finance nor the service industry are in the deal. As the largest financial center in Europe, the City of London in the UK cannot sell its own financial products within the European Union as of January 1. The European Commission will unilaterally decide to make the same decisions, provided that London maintains the same supervision as the European Union. Currently, Brussels only recognizes 2 (39 in stock). This forced the major London-based banks and mutual funds to open branches in the European Union. The most popular destinations are Dublin, Frankfurt, Luxembourg and Paris. But these relocations remain marginal, occupying only more than 10,000 jobs.
New transportation paradigm
The core vocabulary of the withdrawal agreement involving air, land, rail and maritime connectivity is “continuity and sustainability.” Although chaos is avoided, none of this will work as before. For passengers crossing the English Channel, an international driving license is required, because a driving license in your own country cannot be automatically recognized. The London to Paris route is maintained, but British Airways can no longer ship along the route (such as the London-Paris-Rome layover route).
The end of free flow
The free movement of Europeans to Great Britain and of British people to the European continent will end on January 1. The first few months are enough to keep your identification. But since October 2021, Europeans have to show their passports at customs. All stays longer than 3 months require a visa.
The transport of pets must be carefully controlled
Bring your own dog, cat or goldfish to the UK, the European pet passport will no longer be recognized. The rules will not be changed immediately. However, this also means that the process will be more complicated. Pet owners must obtain a pet health certificate 10 days before traveling to the European Union.
Points system for European immigrants
The European diaspora of 4.2 million who settled in the UK before December 31, 2020 need not worry. Your rights are protected. For those who intend to emigrate to the UK from January 2021, they must face stricter immigration policies. These people will have to face a point system based on age, English proficiency, educational level, etc. to obtain a visa (valid for five years). If you add the conditions of having a job with a salary of not less than £ 26,500, it becomes almost impossible to earn a living in the UK by doing some small tasks.
Great Britain removed from Erasmus project
Thanks to the Erasmus exchange study program, 32,000 European university students can temporarily go to university in the UK each year. For French university students, the UK is the third preferred school destination. Great Britain decided to withdraw from the Erasmus project. As for those European students who still intend to stay in the UK to study, this means a substantial increase in tuition.
The end of “roaming”?
This is another consequence of Brexit. The right of European consumers to enjoy their own rates will not be guaranteed. Therefore, UK mobile operators will charge additional fees to European customers. The same goes for the British in Europe.
Limited security cooperation
The agreement provides for cooperation and the exchange of confidential information on the fight against terrorism and cross-border crime. For cooperation in foreign policy, foreign security, defense or development, Boris Johnson chose to exclude these areas from the agreement.
