Post-Brexit trade deal agreed upon by UK and EU

Both sides have confirmed a trade deal on Thursday afternoon. "The deal is there," the British government announced. EU Commission chief Ursula von der Leyen and negotiator Michel Barnier announced a joint press conference. The agreement appears to have averted a harsh economic rift at the turn of the year.

The trade agreement is to regulate economic relations between the island and the continent from January 2021. The most important point is to avoid tariffs and ensure the smoothest possible trade. However, the agreement also covers fishing as well as cooperation on energy, transport, justice, police and many other issues.