This Alert gives a high level overview of the new trading relationship between the European Union (‘EU’) and the United Kingdom (‘UK’) for goods and service supply.

The EU and the UK reached provisional agreement on a trade agreement in December 2020, and the transition period for the UK’s exit from the EU (‘Brexit’) came to an end on 31 December 2020. The UK Parliament approved the agreement on 30 December 2020 and, last week, the European Parliament did so also. The EU Council signed it on 29 April 2021 and the final agreement has therefore now entered into force. In the meantime, the provisional TCA has been applied since 1 January 2021.