British Boris Johnson Said It Would Not Extend The Transition Period From Europe To Europe.

According to the Reuters and guardian, the British Prime Minister Boris Johnson said it would legislate against the government from extending the transition period from January 31, 2020 to December 31, 2020.

During the transition period, the UK still remains in the EU's single market and customs union, but it has no right to interfere in the EU's decision making. The EU agreement has agreed to extend the transition period for one or two years if necessary. Boris Johnson believes that the eleven month transitional period is enough to allow Britain to reach a golden age of trade agreement with the European Union, insisting that it will not extend the deadline. Under this restriction, both sides are urged to focus on trade agreement negotiations. After the announcement, the pound fell 2% to 1.3154 against the dollar from the high of 1.35.

Trade agreement negotiations usually take many years, such as the "Canada EU comprehensive economic and trade agreement" (Comprehensive Eco). Nomic and Trade Agreement (CETA) has a space of 2000 pages and has been signed after seven years of consultation. A comprehensive trade agreement will cover everything from financial services and rules of origin to tariffs, state aid rules and fisheries, and to discuss any scope and order of future trade. Today, Boris Johnson has refused to extend the deadline for the transition from Europe to Europe. If the United Kingdom can not reach a comprehensive agreement with the EU by December 31, 2020, it will eventually lead to a bilateral agreement.