House Of Commons Passes Brexit Legislation To Leave EU On Jan. 31

On Thursday, UK lawmakers approved a Brexit deal allowing the UK to leave the EU on January 31st. The legislation now moves to Parliament's upper chamber for debate. Post-Brexit, the UK will enter a transition period until December 31st, 2020, during which it must adhere to EU trade rules. Prime Minister Boris Johnson aims for a free trade deal by then, but European Commission President Ursula von der Leyen expressed doubts about reaching a full agreement within the year. Despite challenges, she remains optimistic. The future UK-EU relationship will differ, with Brussels offering an extension, but Johnson insists on a timely exit.

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