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LONDON-On Monday, 27 ambassadors of EU member states formally approved the Brexit trade agreement reached with the United Kingdom last week, which is the latest obstacle to the implementation of the agreement on January 1.
The ambassadors spent the Christmas holiday and approved a provisional application on Monday morning. The European Parliament is the only directly elected parliament of the European Union. It is not expected to vote on it before January and refuses to ratify the treaty within the tight time limit. The provisional application will take effect on Friday’s New Year’s Day.
European Union governments must send their ratifications in writing by 2 pm London time on Tuesday, but this is also a form, because EU leaders have already welcomed the agreement.
The British government will vote on the trade agreement on Wednesday, and the UK will withdraw from the transition period with the European Union at 1
The 1,246-page document (the details of which have been posted on the British government’s website) and the tense last-minute negotiations hardly have time for any proper review before the deadline.
Despite concerns, the British opposition Labour Party is expected to support the agreement, but the Labour Party and the ruling Conservative Party may have some rebel MPs.
Scottish Prime Minister Nicola Sturgeon expressed disapproval of the agreement. The British fisheries community reacted indifferently, accusing the British Prime Minister Boris Johnson of having only “the international law rights that the United Kingdom is entitled to”. And the government has repeatedly stated that it will represent the safety of British fisheries.”
On Christmas Eve, the two sides reached a “zero tariff, zero quota agreement”, which will help smooth trade in goods throughout the English Channel. This reduces the pressure on exporters who have been facing higher tariffs and costs on both sides if no agreement is reached.
Since March, the two parties have been engaged in intense negotiations to determine how the business will operate from January.
— Silvia Amaro of CNBC wrote this article.