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No import tariffs between Great Britain and the EU, a transition phase for the fishing quota and close cooperation in the fight against crime – the key elements of the Brexit trade deal.
After months of negotiations, the EU and Britain agreed on a post-Brexit trade deal. It not only affects the movement of goods, but also areas such as state subsidies, air and road transport or social security. Britain speaks of the “largest bilateral trade deal” the two sides have ever agreed to. The essential elements of the post-Brexit deal at a glance.
No fees
Import duties do not apply to goods in mutual trade. Furthermore, there are no quantitative restrictions on imports. Import and export formalities, for example due to the control of other regulations, should be simplified as far as possible. Trade in the areas of automobiles, medicines, chemicals and wine must be particularly fluid.
Fair competition
In order for the UK to continue to have free access to the EU market with 450 million consumers, the EU asked London not to undermine its standards. According to the EU Commission, the agreement now guarantees “a strong and fair competitive environment” with a “high level of protection” in areas such as environmental protection, social and labor rights and state aid. However, the EU had to give up its original demand that Britain should continue to adapt to changed standards in the future.
Fishing rights of EU fishermen in UK waters
The subject was one of the biggest controversies. Although the economic importance of around 650 million euros a year is quite low, the issue of coastal states such as France, Belgium, Denmark and the Netherlands was particularly important. Both parties agreed to a transition period of five and a half years. During this time, the fishing rights of EU fishermen will be reduced by 25 percent. Starting in June 2026, annual negotiations on catch quotas will take place with Great Britain.
Financial services
Britain wanted broad access to the EU market for its important financial sector. For the moment, this does not go beyond normal trade agreements. The essential questions should not be clarified until March.
traffic
The agreement guarantees a continuous connection with air, road, rail and sea transport. This includes, for example, the use of airports by the airlines on the other side and unhindered forwarding traffic. According to the EU, the rights of passengers and employees are also guaranteed.
Energy and climate
There are also agreements on energy trade and connection of energy networks. Both parties want to work together on offshore wind farms in the North Sea. The agreement also provides commitments to the Paris climate agreement.
Social security systems
According to the EU, the agreement aims to guarantee a series of social rights for EU and UK citizens who move or travel to work in the other area after January 1, 2021. For people who have already entered the country before, extensive provisions already apply in the Brexit Treaty. They guarantee claims for health insurance, pensions and other social benefits.
security
There is extensive cooperation in the fight against crime and terrorism. Close cooperation between the police and judicial authorities is envisaged. The exchange of criminal records, fingerprints and passenger data was also agreed. The prerequisite is that Britain keeps its promise to continue to observe the European Convention on Human Rights.
Increased participation in EU programs
Britain continues to participate in five EU programs. This includes the Horizon Europe research program, the European Atomic Energy Community (Euratom) research and training program, the Iter nuclear fusion reactor project, the Copernicus earth observation system and the monitoring system by SST satellite. To do this, London must continue to contribute to funding.
Control of the agreement
For the entire agreement, both parties agreed on a mechanism to resolve conflicts. The central element is a “joint association council”, which controls implementation and in which disputes are discussed. According to the EU, this is linked to “binding enforcement and dispute resolution mechanisms” to ensure that the rights of businesses, consumers and individuals are respected. Both parties could “retaliate across sectors for violations of the agreement,” not just for those parties to the agreement that are directly affected.
