Post-Brexit trade deal signed into law in UK hours before deadline

Britain's Queen Elizabeth II gave Royal assent in the early hours of Thursday to a new law spelling out Britain's future relationship with the European Union (EU), reported Xinhua.

The monarch's assent brought to an end a marathon session of British lawmakers who spent more than 10 hours debating the post-Brexit bill in both the House of Commons (lower house of the British Parliament) and the House of Lords (upper house).

The EU-UK trade deal entered law in Britain on Thursday, paving the way for its commencement at 2300 GMT, when the Brexit transition period comes to an end. It avoids the need for import taxes, or tariffs, which many businesses had feared.

British Prime Minister Boris Johnson urged Britain to seize the moment as the country embarks on a new journey as an independent global trading nation.

In his message, Johnson said: "The destiny of this great country now resides firmly in our hands. We take on this duty with a sense of purpose and with the interests of the British public at the heart of everything we do."

He said, "11 p.m. (2300 GMT) on 31 December marks a new beginning in our country's history and a new relationship with the EU as their biggest ally. This moment is finally upon us and now is the time to seize it."

European Commission President Ursula von der Leyen and European Council President Charles Michel on Wednesday formally signed the new trade agreement in Brussels, which was then flown to London for Johnson's signature.

British lawmakers had been summoned from their festive holiday recess to the Houses of Parliament on Wednesday to debate the EU (Future Relationship) Bill to ensure it passed all of its stages before the Dec. 31 deadline.

MPs passed the trade deal by 521 votes to 73, a majority of 448. Johnson was given a major boost for the pass of the bill as the main opposition Labour Party announced to support the deal.

The London-based Guardian newspaper reported that opposition to the new bill from the Scottish National Party (SNP) and the Northern Ireland-based Democratic Unionist Party (DUP) appeared to be a sign that Brexit has increased tensions in Britain over the regional block.

SNP politician Ian Blackford, the party's leader in Westminster, spoke after the Royal Assent that Scotland would seek to become a member of the EU as an independent nation away from Britain.

Johnson has rejected calls for a Scottish independence referendum, saying a 2014 poll which backed Scotland remaining with Britain as a once-in-a-generation poll.

Although Britain ended its membership of the EU on Jan. 31, 2020, it has followed EU rules during a transition period which expires at 2300 GMT on Thursday. Without this new bill, Britain would enter 2021 with no trade deal with the EU.

The EU and Britain announced last week that they had reached an agreement that will govern bilateral trade and security.

The deal, which came after nine months of arduous negotiations between Britain and the EU, is the biggest bilateral trade deal signed by either side, covering trade worth around 668 billion pounds.