Post-Brexit trade deal begins, ushering in a new era for the UK-EU relationship

  • Date: 01-Jan-2021
  • Source: CNBC
  • Sector:Economy
  • Country:Middle East
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Post-Brexit trade deal begins, ushering in a new era for the UK-EU relationship

Britain's Prime Minister Boris Johnson speaks during a news conference about the ongoing situation with the coronavirus disease (COVID-19) pandemic, inside 10 Downing Street, in London, Britain, December 16, 2020.Matt Dunham | ReutersLONDON — A new chapter has begun in the history of Britain's relationship with the rest of Europe.Britain officially left the European Union last January after 47 years of membership in the now-27 member bloc, but a transition period that has lasted through 2020 has also now expired — as of 11 p.m. local time on Thursday.Both sides have come a long way since the summer of 2016, when a referendum on EU membership saw almost 52% of British voters elect to leave the EU, and 48% vote to remain.The vote, taken against a backdrop of Europe's migration crisis, was the result of deeper divisions in Britain over what were seen as the advantages and disadvantages of being in the EU.For Remainers, the EU represented (and still represents) the triumph of European unity, peace and cooperation forged after the destruction of World War II. EU membership allowed British citizens to travel, work, study, live and move freely in the European Union.For Leavers, however, exiting the bloc represented a