Author

Ross L. Denton

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The UK and the EU reached this week a long awaited agreement on a technical level on the Withdrawal Agreement (a legally binding document which includes provisions on the divorce settlement and on the transitional period) and on the Outline of the Future Relationship (a political declaration which outlines what the future relationship will look like).

After the UK Prime Minister managed to get the backing of her cabinet, the EU and the UK published these documents (see here and here). Based on these documents it appears that there will be at least two and potentially three distinct periods in the trade relationship between the EU and the UK. We have outlined below, how trade with the EU will broadly operate under these distinct periods (based on the information available so far); what are the next steps in the negotiations; and what businesses should be doing now.