Brexit Is Here: The EU and UK Must Brace for the Consequences (CFR)

When the United Kingdom (UK) voted to leave the European Union (EU), few expected that the ensuing negotiations would take over three years and trigger two general elections. Disagreement over the extent of and timeline for the UK’s separation from the bloc continued through the end of 2019. Only after the UK Conservative Party’s landslide victory in December did the path forward become clear. While the UK will formally leave the EU on January 31, 2020, it now enters a transition period during which it will remain in the EU’s customs union and single market until their future relationship is hashed out. Still, the Friday exit undoubtedly marks a new chapter in the Brexit saga.

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