Trade and Cooperation Agreement summary
As of 1 January 2021, the UK left the EU Single Market and Customs Union. As a result, it will no longer benefit from the principle of free movement of goods.
Even with the new agreement in place, businesses will face new trade barriers, leading to increased costs and requiring adjustments to integrated EU-UK supply chains.
The provisions in the agreement do not govern trade in goods between the EU and Northern Ireland, where the Protocol on Ireland and Northern Ireland included in the Withdrawal Agreement will apply.