U.S. Stands Alone, While the UK and Europe “Hold Hands” — UK-EU Restart Post-Brexit Agenda with First Agreement in Five Years

TradingKey - The Trump administration’s aggressive use of tariffs and confrontational foreign policy has indirectly encouraged greater unity among other nations. On May 19, nearly nine years after voting to leave the EU, the United Kingdom and the European Union reached a landmark agreement to restart their post-Brexit relationship.

The UK and EU have reportedly agreed on a series of measures covering trade and defense cooperation. For the UK, these agreements will simplify export procedures for agricultural and food products entering the EU market. Experts estimate that UK agricultural exports to the EU could increase by more than 20%.

In addition, the UK will join the EU's Defense Joint Procurement Program, aimed at enhancing Europe’s military capabilities and building a “secure and resilient Europe.” According to the Financial Times , the agreement could open the door for the UK to access the EU’s €150 billion defense fund for weapons development and procurement.

For the EU, the deal allows EU fishing vessels to operate in UK waters for up to 12 years. Although the fishing industry accounts for only a tiny portion of the UK’s GDP, it has long been a politically sensitive issue. The UK’s concessions on fisheries have sparked controversy among certain political factions.

Originally scheduled for release on the 19th, this agreement marks the first major bilateral deal between the UK and EU since the UK officially left the EU in 2020.

An EU official described the agreement as the beginning of a “new chapter” in EU-UK relations.