Withdrawal Agreement Executive Summary

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Kenema As part of the backstop, the UK will form a customs union with the EU (with the exception of trade in fishery and aquaculture products, which is expected to be the subject of another agreement on fishing opportunities by 1 July 2020). The UK will comply with specific EU customs rules, including with regard to third countries, and some harmonisation of taxation, the environment, labour law, state aid, competition and state-owned enterprises/monopolies will continue, but without any obligation to keep pace with new EU legislation and CJEU case law. In order to create a level playing field, the UK is committed not to back down in the tax administration when it comes to EU environmental protection, social and labour standards, state aid and competition, and state-owned enterprises. The text indicates that the safety net is not the preferred or expected outcome. It sets out the commitment to the best of its ability to reach a future agreement replacing the backstop by December 2020. There is also a provision extending the implementation period as an alternative to the entry into force of the backstop. At the end of the transposition period, it will be important to complete the application of the EU legal order in the UK, in particular as regards ongoing processes and agreements. The third part of the Withdrawal Agreement provides the technical basis for the dismantling of these agreements in order to ensure an orderly withdrawal. The reference to the “regulation” is that of the United Kingdom Government; These words do not appear in the AO. The agreements aim to establish the necessary legal framework to support the economic and security relationship between the UK and the EU. The arrangements set out in this Part are without prejudice to negotiations on the future relationship.

Articles 1 to 2 of the Protocol set out the clear intention of both parties to apply temporarily, as well as the obligation for both parties to work towards the agreement of a subsequent agreement that replaces the application of the application of the Political Declaration, refers to the regulatory and decision-making autonomy of each bloc and its ability to make equivalence decisions in their own interest. This last reference to autonomy is less to be welcomed from a British point of view, because significant access to the market can be obtained under equivalence. Unless read about the objective of going beyond WTO commitments, there is no explicit reference to extending equivalence beyond the existing patchwork. However, in this context, Steven Maijoor, President of the European Securities and Markets Authority (ESMA), has already called for a comprehensive and harmonised European regime for trading platforms in third countries. The political declaration also refers to the fact that both sides will start assessing equivalence to each other as soon as possible after the withdrawal, with a view to ending it before the end of the second quarter of 2020. .