The transition period ends on December 31, but negotiators are still trying to reach an agreement to protect nearly $1 trillion in annual trade from possible quotas and tariffs. BRUSSELS (Reuters) – European lawmakers said on Friday that the time had come to launch a new trade deal between London and the European Union before the end of an 11-month transition period after the Exit of the British Bloc. The 2019 revisions also adapted elements of the political declaration and replaced the word “appropriate” with “appropriate” with respect to labour standards. According to Sam Lowe, a trade fellow at the Centre for European Reform, the amendment excludes labour standards from dispute resolution mechanisms.  In addition, the Equal Competition Mechanism has been postponed from the legally binding withdrawal agreement to the political declaration, and the line of the political statement that “the United Kingdom will consider taking into account alignment with trade union rules in the relevant areas” has been removed.  A 2002 ruling by the European Court of Justice forced Britain to review its bilateral air services agreements with third countries such as New Zealand to ensure that all EU air carriers are treated equally on issues such as ownership rules. It is about 40 British agreements, but the process is simple. The project contains ten annexes. The first is a protocol to maintain an open border between the EU and the UK on the island of Ireland (usually known as the “Irish Backstop”). The second is the rules for establishing a common customs territory between the EU and the UK until a technical solution that allows both an open border and an independent customs policy can be found.
The third area concerns the activities of the common customs territory. The fourth area concerns “good governance in the areas of taxation, environmental protection, social and labour standards, state aid, competition and state-owned enterprises. The five to eighteen provisions relate to the relevant provisions of EU law. In the ninth and tenth versions of the procedures that arise from the main sections of the project. The political declaration provides that the EU-UK agreement on future relations will essentially be an economic and security partnership. In accordance with the political declaration, the 27 EU Member States agreed on 25 February 2020 on the negotiating mandate of the European Commission, which is negotiating on behalf of the Member States on future relations between the EU and the UNITED Kingdom. On this basis, the EU`s chief negotiator, Michel Barnier, presented in mid-March a draft comprehensive agreement on the new partnership with the UK, to which other elements were added. You can find this and the others on the UK Task Force`s website.
The House of Commons votes on the Brexit bill. This means that the UK is on track to leave the EU on 31 January. However, the House of Lords and the European Parliament have yet to approve the agreement. Barnier and Frost are expected to update the progress of the discussions by the middle of next week. If a deal is within reach, Johnson and Leyen could be called in to try to reach an agreement on the line. The UK government and the other 27 EU member states approve the draft agreement. Even if it were so simple, critics still fear that it will open up a bureaucratic whirlwind that undermines energy and resources.