On December 24, 2020, the U.K. and the EU struck a provisional free-trade agreement that ensures the two sides can trade goods without tariffs or quotas. However, key details of the future relationship remain uncertain, such as trade in services. The deal still needs to be approved by the U.K. and EU parliaments, but the EU currently plans to put it in place provisionally on January 1, 2021 for two months while the EU parliament scrutinizes and takes time to ratify it.
Since Brexit, the U.K.’s departure from the European Union (EU), on Jan. 31, 2020, the U.K. and EU have …
