UK-EU trade agreement comes into force at the beginning of May
On May 1, the trade agreement between the European Union and the United Kingdom, concluded at the end of December last last year, regulating their trade relations after Brexit. The EU has completed the last stage of ratification of the document - it has been approved by the EU Council, which expresses a positive assessment of the constituent countries of the union. The agreement provides for trade between the parties that is not burdened by duties and quotas. However, as the EU has repeatedly However, as the EU has repeatedly mentioned, it will not give the UK all benefits that it enjoyed as a member of the EU. The trade agreement between the parties has been in force since the beginning of the year in provisional regime because it could not be ratified before January 1. Since May, however, it will come into full force. Britain is one of the main trading partners of the European Union, along with United States and China; however, it is worth noting that between Between January and February, the union's exports to and imports from the country fell year on year Union declined by 20 percent and 47 percent year over year, respectively. respectively.