Following its withdrawal from the European Union on 31 January 2020, the United Kingdom began negotiations on several free trade agreements to remove or reduce tariff and non-tariff barriers to trade, both to establish new agreements and to replace previous EU trade agreements. Withdrawal ended 47 years of membership during which all its trading agreements were negotiated by the European Commission on behalf of the bloc. The UK did not actually withdraw from the European Single Market and the European Union Customs Union (and its trade agreements) until 31 December 2020.
These treaties are divided into two types of free trade agreements: continuity agreements and 'new' agreements. Continuity agreements, also named rollover agreements, make use of a mutatis mutandis concept in order to quickly replicate the existing EU agreements, only having to call out those minor areas of differentiation. Most continuity treaties were provisionally applied, or through a "bridging mechanism", thus continuity was achieved.[1] Trade agreements negotiated after Brexit are termed 'new', or enhanced agreements: these agreements have been negotiated from scratch or have been renegotiated to enhance the deal since Brexit.[2]
As of May 2023[update], the United Kingdom has 38 active free trade agreements with nations and trade blocs, covering 100 countries and territories.[3][1] Five of these are 'new' trade agreements, such as with Australia and New Zealand.[4] The remaining 33 are continuity agreements. Furthermore, the UK has a customs union with its three Crown Dependencies.[5] The UK has further arrangements covering free trade with its 14 British Overseas Territories.[6]
The UK has also reached an agreement to accede to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership, which it signed in July 2023 and is expected to join, after the 11 present members ratify, in 2024.[7]
The United Kingdom has only suspended negotiations for a trade deal on one occasion; it suspended negotiations for a post-Brexit Canada Free Trade Agreement on 25 January 2024.[8]