Britain’s relationship with the EU will look like Switzerland’s

THE TRADE deal that Boris Johnson and Ursula von der Leyen, the European Commission president, struck on December 24th is better than no deal. That is about the best that can be said for it. It does not cover all of Britain’s trade, nor does it provide stability. An eternity of negotiations lies ahead. Britain’s relationship with the EU will look rather like that of Switzerland, which has spent years battling over details.

Last-minute concessions on both sides got the deal done. Even a week earlier, many diplomats doubted it would happen. But Mr Johnson then gave ground on fisheries, and Mrs von der Leyen backed off a demand for instant retaliation if Britain diverged unfairly from the so-called level playing field for EU labour, environmental and state-aid standards. Businesses on both sides are relieved, although doing a deal barely a week before the standstill transition period ends on December 31st is likely to maximise short-term disruption.

For goods trade, the deal means no tariffs and no quotas, a broader agreement than Canada’s. Carmakers and the agrifood industry are reasonably happy, though the fishing lobby was disappointed with taking back only 25% of the EU’s catch in British waters until June 30th 2026. But Mr Johnson is wrong to claim that there will be no new non-tariff barriers. Leaving the single...