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After Months of Haggling, Britain, EU Reach Trade Deal

Jamie Dettmer

   When Britons voted in 2016 to leave the European Union after 47 years
   of membership, Brexiters said striking a free trade deal with the Eu
   would be simple and "one of the easiest in human history."

   It didn't turn out that way.

   But Thursday, after four years of talks marked by fractiousness and
   ill-temper and amid accusations of bullying, delusions and bad faith,
   there was some holiday cheer after London and Brussels finally struck a
   deal that will limit the economic damage both Britons and Europeans
   would have suffered in the absence of any agreement.

   Both sides compromised and moved away from frequently emphasized 'red
   lines' to reach the deal. Britain formally exited the EU last January
   but had a year-long transition period allowing for free trade and free
   movement of people to continue uninterrupted until December 31.

   Pro-Brexit headline writers immediately announced "Merry Brexmas" and
   praised Prime Minister Boris Johnson for delivering what he said he
   would. "The war is over," beamed Nigel Farage, Brexit Party leader.

   He added: "It's not perfect, but goodness me, it's still progress."

   The pound rallied modestly on the news of the deal, but then slipped
   back.

   Johnson proclaimed the deal, with an estimated overall value of $900
   billion, the biggest trade agreement ever signed by the EU. "Everything
   that the British public was promised during the 2016 referendum and in
   the general election last year is delivered by this deal," a Downing
   Street official said.

   Using similar language to what Brexiters promised more than four years
   ago during the Brexit referendum campaign, he added: "We have taken
   back control of our money, borders, laws, trade and our fishing
   waters."
   Johnson tweeted a photograph of himself in Downing Street with two
   thumbs up. "The deal is done," he announced.

     The deal is done. [1]pic.twitter.com/zzhvxOSeWz
     -- Boris Johnson (@BorisJohnson) [2]December 24, 2020

   Later at a press conference in London Johnson appeared triumphant,
   saying: "We have taken back our laws and destiny." He added the deal
   will "protect jobs across this country" by allowing goods to be sold
   "without tariffs and quotas" in the EU. He said Britain will now
   control every "jot and tittle of our regulations."
   The European Commission President Ursula von der Leyen dubbed the deal
   "fair and balanced," as she announced, with obvious relief at a press
   conference in Brussels, "we have finally reached a deal."

References

   1. https://t.co/zzhvxOSeWz
   2. https://twitter.com/BorisJohnson/status/1342123159181516802?ref_src=twsrc%5Etfw