The EU-UK Trade and Cooperation Agreement (TCA)

11 Pages Posted: 9 Apr 2021 Last revised: 29 Apr 2021

See all articles by Alejandro Buesa

Alejandro Buesa

Banco de España; Universidad Complutense de Madrid (UCM) - Department of Fundamentals of Economic Analysis II (Quantitative Economics)

Iván Kataryniuk

Banco de España

Pilar L´Hotellerie-Fallois

Banco de España

Susana Moreno

Banco de España

Date Written: March 22, 2021

Abstract

On 20 December 2020 the European Union (EU) and the United Kingdom (UK) signed a Trade and Cooperation Agreement (TCA) setting the terms on which trade relations between both areas will be based. This article describes the essential points of the agreement, in both the trade and financial areas, and the governance framework that will regulate its fulfilment. It further analyses how the TCA will affect both areas’ GDP, and which adjustment measures are being taken to offset potential adverse effects.

Keywords: Brexit, trade agreement, economic cooperation, regulatory equivalence

JEL Classification: F15, F53

Suggested Citation

Buesa, Alejandro and Kataryniuk, Iván and L´Hotellerie-Fallois, Pilar and Moreno, Susana, The EU-UK Trade and Cooperation Agreement (TCA) (March 22, 2021). Banco de Espana Article 08/21, Available at SSRN: https://ssrn.com/abstract=3821574

Universidad Complutense de Madrid (UCM) - Department of Fundamentals of Economic Analysis II (Quantitative Economics) ( email )

Campus of Somosaguas
Madrid
Spain

Iván Kataryniuk

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Pilar L´Hotellerie-Fallois

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

Susana Moreno

Banco de España ( email )

Alcala 50
Madrid 28014
Spain

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