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Post Brexit deal: Britain, EU wrap up trade negotiations

EU Summit in Brussels

European Commission President Jean-Claude Juncker and Britain's Prime Minister Boris Johnson shake hands during a news conference after agreeing on the Brexit deal, at the sidelines of the European Union leaders summit, in Brussels, Belgium October 17, 2019.

European Commission President Jean-Claude Juncker and Britain’s Prime Minister Boris Johnson shake hands during a news conference after agreeing on the Brexit deal

The European Union and Britain are to finish the third round of negotiations on a post-Brexit trade deal on Friday after a week of video conferences.

With a constant push from British PM Boris Johnson, Britain left the EU at the end of January.

However, a transition period remains in place until the end of the year, meaning very little has yet changed in terms of Britons’ everyday lives.

Britain is still part of the EU internal market and customs union, adheres to EU rules and pays into the budget.

If no agreement for future relations is made within the transition period, there will be a hard split, resulting in economic turbulence.

The final round of negotiations is set for June.

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