First Brexit milestone cleared; hurdles ahead

What counts more than the details for May is the speed of reaching a deal.

The first phase of Brexit talks is done. Now comes the hard part. UK Prime Minister Theresa May has secured agreement from the European Union to move on from discussing the divorce terms to mapping out a plan for the future trade relationship. Before that, she wants to nail down a transition deal as soon as possible.

This is the crucial bridging phase that businesses want to smooth the change in trading conditions from EU membership rules to the new regime applies after Brexit.

May’s team have set out plans to abide by the rules of the EU single market and customs