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United Kingdom and European Union Finally Reach Brexit Trade Deal

The deal narrowly averts a “no deal” scenario that would have imposed heavy tariffs on goods between the two countries.

In a down-to-the-wire decision, the European Union and United Kingdom have finally agreed on a Brexit trade deal, four and a half years after Britons voted to leave the political and economic bloc. The breakthrough comes after two months of deadlocked negotiations over issues such as fair competition and fishing rights, narrowly averting a “no deal” scenario that would have imposed heavy tariffs and quotas on goods between the two countries and caused severe economic disruption. But it still leaves key issues, such as cooperation on security and foreign policy, undecided. It will also need to be approved by the British and European Parliaments.