Amended Withdrawal Agreement

The amended withdrawal agreement, also known as the Brexit deal, has been a hot topic in the United Kingdom and the European Union. This agreement outlines the terms of the UK`s departure from the EU and covers topics such as trade, immigration, and security cooperation.

One of the significant changes in the amended withdrawal agreement is the removal of the controversial “backstop,” which was designed to prevent a hard border between Northern Ireland and the Republic of Ireland. Instead, the new agreement includes a customs arrangement that will allow Northern Ireland to remain in the UK customs territory while still following some EU customs rules.

The agreement also includes a transition period until the end of December 2020, during which time the UK and the EU will negotiate a new trade deal. This transition period can be extended up to two years if both sides agree to do so.

The amended withdrawal agreement also addresses the rights of UK citizens living in the EU and EU citizens living in the UK, ensuring that they will be able to continue living and working in their current locations.

Additionally, the agreement includes a financial settlement that will see the UK paying around £33 billion to the EU over the next few years to cover commitments made during its membership of the bloc.

In terms of the impact on businesses, the amended withdrawal agreement provides some certainty, as the UK will have a defined path towards leaving the EU. However, it also means that companies will need to start preparing for changes in trade and regulations, as the UK will no longer be part of the EU`s single market or customs union.

Overall, the amended withdrawal agreement represents a significant milestone in the UK`s departure from the EU. While not everyone is happy with the agreement, it provides a way forward for both sides to move on to the next phase of negotiations and start to build a new relationship.

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