UK Formally Rejects Brexit Transition Period Extension

UK Formally Rejects Brexit Transition Period Extension

The United Kingdom formally confirmed on June 12th to the European Union (EU) that it does not wish to extend the post-Brexit transition period, which runs until the end of 2020, before the celebration next week of a virtual meeting on the theme.

“I have formally confirmed that the UK will not extend the transition period and that the time has passed to ask for extensions,” writes Cabinet Minister Michael Gove on Twitter after a videoconference meeting with the European Commission’s Vice President for Institutional Relations , Maros Sefcovic.

After the official departure on January 31st, the British are still connected to the EU. For 11 months, the two parties still have a transition period, in which several details of the relationship between them are negotiated. Among the most important are:

  • Circulation of European and British citizens between the United Kingdom and the European Union (including rules of authorization and animal passports)
  • Residence and work permits for Europeans in the UK and British in the EU
  • Trade between the UK and the European Union, import tariffs, free movement of goods
  • Security, data sharing and security issues
  • Drug licensing and regulation
  • Food Circulation

Of these, the most important issue is undoubtedly the trade one, as the EU accounted for 49% of the UK’s negotiations in 2019.

If in 11 months it is not possible to reach an agreement on free trade, the exit will be without agreement. The United Kingdom follows the terms of the World Trade Organization and British producers and importers start paying tariffs that do not exist today to sell and buy European products, in addition to being subject to the same rules as other WTO partners.