The EU Withdrawal Agreement Article 18: What it Means for the UK and EU
The EU Withdrawal Agreement Article 18 is a crucial part of the Brexit deal between the UK and the EU. This article outlines the transitional period that will exist following the UK`s exit from the EU. The transitional period allows for the UK to remain in the EU`s single market and customs union until December 31, 2020. During this period, the UK will continue to follow EU regulations, but it will no longer have a say in the creation of those regulations.
What is the purpose of Article 18?
The purpose of Article 18 is to provide a period of time for the UK and EU to negotiate their future relationship. During the transitional period, the UK will no longer be a member of the EU, but it will continue to participate in the single market and customs union. This means that the UK will have access to the EU`s internal market, and EU citizens will continue to have the right to live and work in the UK. The transitional period also provides businesses with some stability and certainty as they will have time to adjust to the new trading relationship between the UK and EU.
What does Article 18 cover?
Article 18 covers a range of issues related to the transitional period. Some of the key areas it addresses include:
1. Trade: The UK will continue to have access to the EU`s single market and customs union during the transitional period. This means that goods and services can continue to be traded between the UK and EU without tariffs or quotas.
2. Free movement: EU citizens will still be able to live and work in the UK during the transitional period. The UK will also have the right to participate in the EU`s freedom of movement until the end of the transitional period.
3. Rules and regulations: During the transitional period, the UK will continue to follow EU rules and regulations. However, it will no longer have any say in the creation of those rules.
4. Financial contributions: During the transitional period, the UK will continue to make financial contributions to the EU budget. However, it will no longer have a say in how that budget is spent.
5. International agreements: During the transitional period, the UK will continue to be bound by EU international agreements.
What happens after the transitional period?
Once the transitional period ends on December 31, 2020, the UK will no longer be a member of the EU`s single market or customs union. This means that there will be changes to the way goods and services are traded between the UK and EU. The UK and EU will need to negotiate a new trading relationship, which will likely take some time to agree upon.
In conclusion, Article 18 of the EU Withdrawal Agreement provides a crucial transitional period for the UK and EU following the UK`s exit from the EU. During this period, the UK will continue to follow EU rules and regulations, but it will no longer have a say in the creation of those rules. The transitional period provides businesses with time to adjust to the new trading relationship, and it allows the UK and EU to negotiate their future relationship. While there will be changes once the transitional period ends, Article 18 provides some stability and certainty for the UK and EU during this time of transition.