• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises

1

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI

2

Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 

3

The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
LeadershipBrexit

A ‘Deal Is Within Our Grasp:’ The Final Pieces of the U.K.-EU Brexit Plan Are Falling into Place

By
Bloomberg
Bloomberg
Down Arrow Button Icon
By
Bloomberg
Bloomberg
Down Arrow Button Icon
November 22, 2018, 10:05 AM ET

The U.K. and the European Union have agreed to the final bit of their Brexit deal, setting out a vision for close economic ties in a draft that hands Prime Minister Theresa May some key political wins.

EU Council President Donald Tusk said the draft declaration on future ties had been agreed in principle, pending leaders’ sign-off on Sunday. May briefed her Cabinet and announced the deal outside of her Downing Street residence.

“The British people want this to be settled. They want a good deal that sets us on course for a brighter future. That deal is within our grasp and I am determined to deliver it,” she said.

The pound surged as investors saw the final stage of negotiations falling into place. May’s challenge now is to convince a skeptical Parliament to back it in a vote that will probably take place next month. She’s already hitting on her best argument to win over politicians: Voters want it done and they care little for the dramatic party politics that has dogged the Brexit debate since the historic referendum in 2016.

The deal offers May some points to help her sell it at home. First, it gives industry what it wanted as it points the way to easy trade for goods, calling for “a free trade area, combining deep regulatory and customs cooperation.” For Brexiteers—her most vocal opponents—it hints vaguely that the U.K. will be able to pursue its own trade policy and also stop free movement of people.

It also offers a way out of the most toxic part of the divorce deal — the Irish backstop that opponents of all political colors oppose as it risks keeping the U.K. shackled to the EU’s orbit indefinitely. And for Brexiteers there’s also a line about how technology will come into its own in the future, solving problems that hardliners have long said hi-tech could fix.

Now it depends whether May’s opponents want to be convinced or not. The text isn’t legally binding, unlike the treaty that governs the divorce, which is where the most unpalatable bits of the agreement are nestled.

It now needs the sign-off of EU leaders and there are still some wrinkles to iron out. Spain says talks over Gibraltar are still under way.

May is due back in Brussels on Saturday for a meeting with EU Commission President Jean-Claude Juncker before the summit of leaders on Sunday.

These are the key points in the deal:

The Parties envisage comprehensive arrangements that will create a free trade area, combining deep regulatory and customs cooperation, underpinned by provisions ensuring a level playing field for open and fair competition. It should “build and improve on the single customs territory provided for in the Withdrawal Agreement which obviates the need for checks on rules of origin. Cross-border financial services will be based on equivalence. Work will start as soon as possible to avoid disruption Parties to explore possibility of cooperation between U.K. and regulatory agencies such as EMA, EASA — this was a key demand from May which the EU had rejected On the Irish backstop: The Parties recall their determination to replace the backstop solution on Northern Ireland by a subsequent agreement that establishes alternative arrangements for ensuring the absence of a hard border on the island of Ireland on a permanent footing. (That’s an upgrade to the previous language.) In another boost for Brexiteers, the draft refers to “all available facilitative arrangements and technologies,” to ease customs procedures.

About the Author
By Bloomberg
See full bioRight Arrow Button Icon

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

This community college student is America’s entrant in the Olympics of skilled trades. ‘I always wanted to be the first female to do something’
Future of Workthe future of work
This community college student is America’s entrant in the Olympics of skilled trades. ‘I always wanted to be the first female to do something’
By Mike Householder and The Associated PressMay 17, 2026
2 hours ago
murdochs
CommentaryMedia
OpenAI paid $100 million for a talk show. James Murdoch is eyeing an even bigger deal. The hot new asset class is humanity
By Lin CherryMay 17, 2026
4 hours ago
dennis
CommentaryAI agents
Freshworks CEO: why agile enterprises are winning the AI race — and what they did differently
By Dennis WoodsideMay 17, 2026
5 hours ago
A man with a headset sits at a desk in a call center.
EconomyAutomation
The AI boom hasn’t stopped U.S. companies from hiring cheap offshore labor, and overseas call center employment is still skyrocketing
By Sasha RogelbergMay 17, 2026
5 hours ago
Zillow CEO doubles down on remote-work model: ‘There is talent everywhere in this country’
Workplace Cultureremote work
Zillow CEO doubles down on remote-work model: ‘There is talent everywhere in this country’
By Marco Quiroz-GutierrezMay 17, 2026
5 hours ago
Stressed job seeker
SuccessGen Z
Gen Z is right about the job hunt—it really is worse than it was for millennials, with nearly 60% of fresh-faced grads frozen out of the workforce
By Emma BurleighMay 17, 2026
5 hours ago

Most Popular

Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
AI
Microsoft AI chief gives it 18 months—for all white-collar work to be automated by AI
By Jake AngeloMay 16, 2026
1 day ago
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
Politics
Former top Russian official admits the country is over Putin and can 'imagine a future without him' — even elites bail as Kremlin seizes their assets 
By Jason MaMay 16, 2026
19 hours ago
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
Politics
The Bezos family just donated $100 million to help achieve one of Mayor Zohran Mamdani’s top campaign promises
By Jake AngeloMay 12, 2026
5 days ago
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
Innovation
SpaceX heads into a record-shattering IPO with the 'deepest moat that exists today' as investors vow to 'never bet against Elon'
By Jason MaMay 16, 2026
1 day ago
Oil markets could be a month away from the moment of truth. Brace for a 'non-linear' price spike and panic buying, analysts warn
Energy
Oil markets could be a month away from the moment of truth. Brace for a 'non-linear' price spike and panic buying, analysts warn
By Jason MaMay 16, 2026
22 hours ago
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
Future of Work
‘You’re not a hero, you’re a liability’: Shark Tank’s Kevin O’Leary warns Gen Z founders to stop glorifying hustle culture
By Jacqueline MunisMay 16, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.