If you thought the battle over the U.K.'s departure from the European Union was painful, wait until you see what comes next.
Britain's Prime Minister Boris Johnson during a visit to the Industry Centre at the University of Sunderland, on Friday Jan. 31, 2020. Britain officially leaves the European Union on Friday after a debilitating political period that has bitterly divided the nation since the 2016 Brexit referendum.
For now, little has changed. The two sides agreed on a transition period that keeps current rules and regulations in effect until Dec. 31. But that gives the U.K. government just 11 months to negotiate a comprehensive trade deal that could decide the prospects of British businesses for decades to come. The EU accounted for 54% of Britain’s imports and 43% of its exports in 2016, according to the Office for National Statistics.
“It’s the first day the European Union is with 27 member states, and in this moment of division, it is important to send a message of cohesion,” Portuguese Prime Minister Antonio Costa said Saturday. Banks and insurance companies are lobbying to maintain access to the lucrative European market. And fishermen want to regain control of fishing grounds they believe have been plundered by European rivals for the past four decades.
Even the most difficult issue settled during the first round of negotiations between the EU and the British government — the knotty question of Northern Ireland — remains problematic.
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