First came the Brexit trade deal. Businesses are scrambling to digest the details and implications of the 1,240-page deal sealed by EU negotiators and the British government Christmas Eve. Britain formally left the EU almost a year ago but remained within the bloc’s economic embrace during a transition period that ends Thursday. Hard-line pro-Brexit lawmakers in Johnson’s Conservative Party are poring over the trade agreement to see whether it meets their goal of a decisive break from the bloc. Under the deal, the EU will give up a quarter of the quota it catches in British waters, far less than the 80% that Britain initially demanded.

Source: Los Angeles Times December 28, 2020 12:15 UTC