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The UK, the European Union and the EU have dramatically concluded negotiations on future relations, including trade agreements. Consequently, the UK faced a complete break with the EU four and a half years after the Brexit decision via a referendum in June 2016. Reporter Kim Jin-ho. The UK and the EU announced that they had reached an agreement to negotiate future relations on the 24th local time. The head of the EU administration, Urzula Ponderaien, said it was a long and tortuous road, but a good deal was reached in the end. In a statement that day, the British government emphasized that “with this agreement, what was promised to the people in the 2016 referendum and last year’s general elections has been fulfilled.” I did. “We have signed a tariff and quota free agreement with the EU for the first time,” explained the British government, “this is the largest bilateral agreement between us.” As the UK and the EU conclude negotiations on future relations, the deal must now go through the parliamentary ratification process by both parties, and the UK government will meet next week to approve the deal. Furthermore, the agreement must be approved unanimously by the 27 EU member states and ratified by the European Parliament. Previously, the UK withdrew from its member states in late January via a Brexit deal with the EU, and has been negotiating for nine months since March, but until recently, concern over the ‘no deal’ has gone on the rise. If the two sides cannot reach an agreement before the end of the year when the transition period ends, the system of the World Trade Organization and the WTO would apply from next year. In this case, tariffs were expected to be imposed on import and export goods coming and going from both sides and a non-tariff barrier is created, creating confusion. This is YTN Kim Jin-ho.
