Context:

Britain clinched a historic deal with the European Union as both sides managed to thrash out a post-Brexit free trade agreement just days before the December 31 deadline.

The EU and Brexit

• The European Union is made up of 27 European countries.
• EU citizens are free to live and work in other EU countries, and firms in those countries can buy and sell each other’s goods without checks or extra taxes at borders.
• The UK first applied to join what was then the European Economic Community in 1961 and finally became a member in 1973.
• The UK was the first country to leave the EU and this was known as Brexit – British exit.
• Brexit happened because a public vote – or referendum – was held in June 2016, to decide whether the UK should be in the EU.

The deal all about

• The deal contains new rules for how the UK and EU will live, work, and trade together.
• The two sides reached a “zero tariff-zero quota deal” which will help smooth the trade of goods across the channel.