The United Kingdom will, in all likelihood, leave the European Union on Jan. 31. The Conservative Party won the country's Dec. 12 general election, securing 365 of the 650 seats in the House of Commons, clearing the way for Parliament to approve the Withdrawal Agreement that Prime Minister Boris Johnson reached with the bloc in October. The House of Commons will likely ratify the agreement by the end of this month, followed by the House of Lords in early January. On Brussels' side, the European Parliament is all but sure to ratify the deal sometime in January as well.
After leaving the European Union, the United Kingdom will remain in the EU single market until Dec. 31, 2020. During this so-called “implementation period," day-to-day life for households and companies operating in the country will generally remain unchanged. London and Brussels, meanwhile, will use this period to negotiate a free trade agreement....
