and business and financial market
Parodi
Nunziante
Giannone
Gigni
Pessina
FROM 31 JANUARY 2020 TO 31 DECEMBER 2020 : transition period
24 DECEMBER 2020 : deal on the two parties' new relationship
BREXIT: United Kingdom's departure from the European Union
23 JUNE 2016 : referendum on the question
Should the United Kingdom remain a member of the European Union or leave the European Union?
51.89 % of voters voted to leave the EU
31 JANUARY 2020 : the UK left the EU
2.1 WHAT IS A FREE TRADE DEAL?
2.2 WHAT DOES THE EU-UK TRADE DEAL MEAN?
NO MORE RULES ESTABLISHED BETWEEN EU AND UK
trade encouraged by
need of new checks
more paperwork
eliminating tariffs, border taxes or charges by governments
FREE TRADE DEAL: cheaper services or goods
AFTER BREXIT : necessity to decide new trading rules
AIM OF THE DEAL : no border taxes and quotas
3. WHAT DOES THE TRADE AND COOPERATION AGREEMENT EXPLAIN?
24 DECEMBER 2020 : deal between EU and UK divided in three agreements
One of these agreements was the TRADE AND COOPERATION AGREEMENT
divided itself in:
1. A FREE TRADE AGREEMENT
2. A NEW PARTNERSHIP FOR OUR CITIZENS' SECURITY
3. A HORIZONTAL AGREEMENT ON GOVERNANCE
4. WHAT HAPPENS TO THE TRADE AGREEMENTS THE UK WAS ALREADY PART OF?
Importers face tariffs and extra paperwork
but
so
BEFORE BREXIT : UK part of EU trade deals
UK LEFT : Eu had about 40 trade deals covering more than 70 countries
UK lost several exports revenues as well as Europe
Any existing EU agreement that was not rolled over, ended on 31 December
By Andrea Parodi
