#Brexit

About

Brexit refers to the United Kingdom's withdrawal from the European Union (EU), a process initiated by a referendum held on June 23, 2016. The referendum resulted in 51.9% of voters opting to leave the EU, setting the stage for negotiations over the terms of departure. Key factors influencing the decision included concerns over immigration, sovereignty, and economic issues. The UK's formal withdrawal began on January 31, 2020, following a prolonged negotiation period and multiple extensions. The withdrawal involved significant legal and economic changes, including the UK's exit from the EU single market and customs union. A transition period lasted until December 31, 2020, during which EU laws continued to apply. The Withdrawal Agreement addressed issues like citizens' rights, border arrangements, and financial obligations. Post-Brexit, the UK has sought to establish new trade agreements and regulate its own policies, though challenges persist regarding trade tariffs and economic stability.