On 7 March, the European Council published new draft guidelines for this phase, which are important for the lack of provisions relating to trade in financial services. However, on 19 March, a modified draft negotiating position was included for the first time in a new Schedule IV. It states that the negotiations should focus on market access for UK-based financial firms through “revised and improved equivalency mechanisms.” According to Politico, the framework he describes is “well below what has been advocated by the British government.” The EU published an amended draft text on 15 March and another draft on 19 March, including the EU-UK transition section. If agreement on an VA text can be reached by the March European Council, negotiations will continue on that date to discuss future relations between the UK and the EU. Perhaps the published text of the latest draft withdrawal agreement is in three colours: green, where the text will be adopted at the negotiating level and where it will not be subject to technical legal revisions until the coming weeks. In yellow, if the text is agreed on the political objective, but the development of changes or clarifications are still necessary. And in white, where the text complies with the text proposed by the EU and which is currently being discussed, for lack of agreement. It should also be remembered that not all governments need to approve the agreement in order for the agreement to be concluded by the Council of the EU. A qualified majority will be needed, which means that 55% of the Member States, which represent at least 65% of the EU-27 population, will receive support. How the customs regime will work after the transition period will be the subject of negotiations and the degree of harmonisation between UK and European rules. This would include regulations such as the content of pesticides used in foodstuffs and chemicals allowed in colour. It is expected to develop from the only customs territory established during the transitional period.
But there is no reason to believe that once the transition period is over, the UK will not be able to have an independent trade policy. It depends on the long-term relationship the UK negotiates with the EU. The draft agreement provides that, during the transitional period, the UK will be bound by obligations arising from obligations arising from the EU or Member States acting on their behalf, or from the EU and its Member States acting in concert. A footnote states that the EU “informs” other parties to these agreements that the UK should be treated “as a member state” during the transitional period for the purposes of these agreements. However, if each of these agreements does not provide for its unilateral amendment by notification, it cannot be possible to rely on a formulation, since each EU trading partner can or will have its own views on this issue, and the “notification” is simply this and does not create any legal requirement or obligation for the partner thus notified.