EU-UK reach post-Brexit trade deal

British Prime Minister Boris Johnson announced Thursday that Britain and the European Union (EU) have reached a deal on their post-Brexit trade relations, saying that "we have taken back control," reported Xinhua.

"We have taken back control of every jot and tittle of our regulation in a way that is complete and unfettered," Johnson said in a virtual press conference at Downing Street.

By the new deal, reached in nine months of hard negotiations between London and Brussels, Britain has "taken back control of our laws and our destiny", he said, adding that his country has also taken back control of money, borders and fishing waters.

The deal is a comprehensive Canada style deal, the prime minister said, adding that it will protect jobs across Britain.

The agreement "offers certainty" for businesses across the "whole country" and will benefit the whole of Britain, he said.

"There will be no palisade of tariffs on Jan. 1 (2021) or tariff barriers to trade," the prime minister said.

"The jurisdiction of the European Court of Justice will come to an end," he said.

The deal came with only a week to go before the Brexit transition period ends on Dec. 31, 2020.

Meanwhile, European Commission President Ursula von der Leyen told a press conference in Brussels that "We have finally found an agreement. It was a long and winding road, but we have got a good deal to show for it. It is fair. It is a balance deal."

"It is time to leave Brexit behind. Our future is made in Europe," she said.

The British parliament would still need to ratify the deal by the end of the year before it can be implemented on Jan. 1, 2021. The EU is likely to impose "provisional application" of the agreement until MEPs vote on it in 2021.

Britain left the EU on Jan. 31, 2020. The two sides have been locked in talks since March to determine their future relations.