Saying that all trade barriers are gone after Brexit ends may have been a bit of an optimism toward Boris Johnson. This is the opinion of researcher Timo Metinin.
The big news on Christmas Eve was that the European Union and the United Kingdom have agreed what the relationship will look like when Brexit ends.
Officially, the country already left the European Union in February, but the power struggle for the perfect divorce deal went to the finish line.
In just one week, the transition period that the two sides agreed to sign the Brexit agreement, in which the two sides could be pleased, will end.
Timo Mittenen is a researcher at the University of Helsinki, whose majors include European Union politics. According to him, Brexit is a defeat, no matter how it twists and turns.
In a way, both sides lose in the process. Meanwhile, when the European Union loses Britain, much of its economic power disappears. For the UK, this is definitely a severe economic shock, but it would have been much worse without a deal.
“The agreement removes many barriers to trade.”
For both parties, there is still a glimmer of light in the new trade agreement.
For the United Kingdom, it was central that the country no longer wanted to abide by the European Court of Justice ruling.
For its part, the European Union has been given the opportunity to interfere with various tariffs if the UK starts making specific decisions.
But of course the UK also benefits from the agreements.
The agreement removes many barriers to trade, but questions remain about how different parties agree to each other’s certificates and systems of origin. These are questions that we get answers for only when we see the wording in the agreement, Mittenen says.
“It is more economically important for Britain to reach an agreement.”
The fact that Prime Minister Boris Johnson claims trade will be freer for Britain is a fact with an amendment.
I think Johnson was a little optimistic when he claimed that all trade barriers have been removed, even those not related to tariffs. This is not true at all. There will also be more bureaucracy in trade.
It’s still too early to say what the relationship will look like in the future.
However, it seems clear that the European Union is the stronger party after the tracks.
In practice, this means that the UK does not have to adapt its laws and regulations to what they look like within the European Union, but can still pay to do so.
In general, perhaps the most economically important matter for the UK is to paddleboard an agreement on the beach, but both parties got their most important wishes with this agreement.
Stronger cohesion thanks to Brexit
How the federation will perform in the future is also an interesting question, even if it is extremely difficult to answer. If Brexit turns out to be a success story, it could of course inspire so-called Brexit movements in other countries.
Mittenen points out that the European Union itself has the keys to its future. Much depends on how the union evolves and whether it is attractive to member states.
For now, at least, the union appears to be cohesively better than it has been in a long time. Ironically, this is thanks in part to the British sortie.
Since the Brexit process has been so cumbersome, we have seen over the past four years that support for the European Union has risen and the exit movements are much smaller.