Brexit deal: A serious economic challenge for both the UK and EU

The Brexit deal has been a major anti-globalization doctrine of 2016, that is expected to have a major impact on the global side of the economy. Both the UK and EU can face a drastic hit due to this deal amid the new strain of COVID-19.

“The clock is no longer ticking ahead.” Stated by Michel Barnier in a conference. After the Britons voted to drop the United Kingdom out from the surplus orbit of European union, a historic trade deal signed by both of them finally on Thursday, December 24, 2020. The Brexit deal has been a major anti-globalization doctrine of 2016, that is expected to have a major impact on the global side of the economy.

After all, “The United Kingdom and the European Union have agreed on a post-Brexit trade deal after months of torturous negotiations, averting the prospect of a chaotic and acrimonious divorce at the end of this year.”

Similarly, both sides reached in “zero tariffs zero quota deal” that will help to plan the trade across the channels and bring relief to the exporters. But according to CNBC media:

The trade agreement still has to be ratified by the U.K. and EU parliaments in the coming days, with a vote in Westminster due Wednesday.”

It is to note that this deal dropped exactly before the UK is close to exit the EU’s market and so the custom unions on December 31, when the Brexit period ends. As announcing the breakthrough agreement, Barnier, the EU’s chief Brexit negotiator, on Thursday said that “It was a day of relief tinged with some sadness as we compare what came before with what lies ahead.”

Read Here: Surging COVID-19 cases by the end of 2020

But U.K. Prime Minister Boris Johnson and President of EU Commission Ursula von der Leyen commended the deal at a conference with the words:

“The arguments with our European partners were at times fierce but this, I believe, is a good deal for the whole of Europe,”

While von der Leyen remarked that:

“It is fair, it is a balanced deal and it is the right and responsible thing to do for both sides and described the UK as a trusted partner.”

Deal following amid SARS-COV-2

However, after the discovery of a new variant of the Covid-19 in the UK, Britain’s biggest port had ceased all its traffic and food supplies heading towards Europe as the nation was facing a major disruption. That crisis prompted Boris to call an abrupt meeting with an aim to keep flowing the goods by developing an adjacent linkage with France especially. As French officials said

“They were working to devise health protocols that would allow cross-channel freight shipments to resume.”

Thus, it results in drying the mats of the economic corridor of the UK both the countries and thus continued a flare of uncertainty in Brexit. As Al-Jazeera suggests:

“Summing up the mounting sense of gloom, national newspapers this week plastered their front pages with warnings the UK was the sick man of Europe and branded the late-December chaos a jingle hell.”

So, in the present climate, to pursue the Brexit deal seems almost troublesome when the mutant virus is more contagious than the previous ones. People become more dishevelled and confused by this sudden wave of a new variant in the UK when there are only 10 days before the deadline to negotiate a post-Brexit trade contract between both of them. As Saurav Datt told to social media that:

“With Brexit, there is a palpable sense that people really don’t know what is going on. There is [also] real frustration at the haphazard, directionless, frequently illogical and reactive stance of the government in dealing with the pandemic.”

Hence, the trade deals suspended, several countries had shut their borders to the travellers from the UK due to the emergence of new strain as according to certain Media configurations,

 “Leaving more than 1,500 trucks stranded in the country’s southeast, unable to cross into France and the European Union.”

Along with prompting several warnings of imminent food shortages from the supermarkets globally. Industries set the alarm and jammed roads have been clogged on both sides for the days. Freight transport groups have urged the shoppers to restrict their buying along with the Food and Drink Federations have warned for severe spoilation of fresh supplies of food over the Christmas recess. In this sort of falling circumstances, that days will not so far when its economy will become down to earth as nobody here to bloc with Britons. Going with words of Chief Executive Officer Ian Wright saying in a statement.

“Continental truckers will not want to travel here if they have a real fear of getting marooned. The government must very urgently persuade the French government to exempt accompanied freight from its ban.”

On the other hand, “The sight of trucks loaded with goods destined for Europe stacked up on UK roads only add to the sense of separation felt by many ahead of the imminent rupture with its largest trading partner and closest neighbour.”

In this case, both the countries are currently suffering and thus jamming the further proceedings of deals and trade alignments giving an utmost priority to deal with this brand-new mutant called SARS-CoV-2.

The present scenario of Brexit deal

 It seems that UK has already brought the people to believe that they specifically don’t need a certified union to be marked as a leading economy. UK believed that this severance will make them able to keep an upper-hand in various negotiations with respect to EU in which they received the cold-shoulder every time before. But it is to be perceived that a deal which provokes Brexit to look worthwhile might encourage other countries to exit EU, which is not good.

Read Here: EU slams Gavin Williamson over bragging about UK

So, in this case EU council must be apprehensive and could take critical amends to repress the effect of detachment by repairing the loss of which the EU countries draws after losing their huge marketplaces in UK. The Brexit negotiator of EU, Michel Barnier, speaking alongside with von der Leyen, saying that:

“Today is a day of relief, but tinged by some sadness as we compare what came before with what lies ahead.”

Thus, Introduction of a fresh variant not only reduces the UK’s social and economical grounds but also make the outsider investors draw their exposed arcs towards the UK’s single market. As the UK’s transport minister, Grant Shapps, said:

“About 20 per cent of the freight moving in and out of the country had been affected. Unaccompanied goods — such as those loaded in shipping containers — continued to be admitted into France and goods could still be driven to other countries, such as the Netherlands, from smaller ports.”

As today’s intense contemporaries demand us to remain united against the pandemic, which is now more powerful and far more contagious when everyone is supposed to be in its own type of crisis. We wish them all the best for their surplus biggest deal as the Brexit was finally done and as Johnson assertion addressing the EU:

“We will be your friend, your ally, your supporter and indeed, never let it be forgotten, your number one market.”

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