Samuel Katama Ngumbau

 Individual Report By (Name of the Author) Business Law and Ethics Instructor’s Name and Title Institution Affiliation The State and City of Location Assignment Due Date Task Instruction “The United Kingdom (UK) has left the European Union (EU) and will once again be free to make its own laws, post the Brexit Transition period. Some argue that the UK’s parliamentary sovereignty was indeed undermined by the EU and that the UK has finally got back its independence.” Discuss this statement. In your answer refer to relevant court decisions to support your arguments. Please have a look at this document which you may use to help with your answer – https://journals.openedition.org/rfcb/1319#ftn14 LENGTH 1500 words maximum Please note the following when completing your written assignment: 1. Writing: Written in English in an appropriate business/academic style 2. Focus: Focus only on the tasks set in the assignment. 3. Formatting: Report 4. Ensure a clear title, course, and name or ID number is on a cover sheet and a bibliography using Harvard referencing throughout is also provided. 5. Research: Research should use reliable and relevant sources of information e.g. academic books and journals that have been peer reviewed. The research should be extensive. Business Law and Ethics "The United Kingdom (UK) has left the European Union (EU) and will once again be free to make its laws, post the Brexit Transition period. Some argue that the UK's The EU indeed undermined parliamentary sovereignty and that the UK has finally got back its independence." The EU is the largest outward economic market globally. It has autonomy over its 27 member states to enforce trade affairs and inference on trade treaties and agreements as per the WTO protocols. The EU trade policy incumbent’s goods and services marketed concerning the Commercial law on intellectual property and foreign investments. The EU has enabled states to conduct free trade without embargoes and tariffs that impede trade relations and policy enactments (Derek Hawes, 2019, 119). The mechanism of uplifting tariffs and embargoes acts as a defensive measure to promote access to market instruments. Developing states can liberally participate in marketing their goods and services to EU trade counterparts. Post-Brexit Transition Period The Brexit deal meant Northern Ireland and Britain's exit from EU trade and the Atomic Energy bloc, where the UK negotiated an exit from the EU trade deal on 1st Feb. 2020. The EU council and Parliament legislated the withdrawal agreement of the UK, which was initiated to last until 31st Dec. 2020. Between 1st Feb. 2020 and 31st Dec. 2020, the UK had the liberalism to engage in trade deals with other states within the EU trade bloc. During that period, the UK imposed free trade agreements with New Zealand and eliminated tariffs such as border charges and taxes for trading. For instance, a car importer could pay a little or no taxes within the country's borders, making the trade relations cheaper through UK-New Zealand trade agreements. The Brexit deal had significant benefits to the retail market because they could import goods and services at a lower price than pre-Brexit times. Therefore, it increased profits and undermined the manufacturing industries' income per fiscal year due to losses incurred after the imposition of free trade abrogation’s within the borders where buyers had no taxation on goods imported (Fajardo, 2020, 278). Consequently, the deal was less effective in boosting the UK GDP because New Zealand has a low cumulative number of traders and investors that amounted to trade incomes of less than 0.2% of GDP. The removal of tariffs on machinery and clothing led the UK government to suffer unprecedented losses in the labor market, and substantial farmers incurred lower standardization of their products. In June 2020, the UK signed a trade deal with Australia yet to be implemented; basically, the trade will foster cheaper sales of beef products free from taxation and other tariffs. That has immense negative impacts on the UK beef farming market due to low-income rates and high standards of living unaffordable for them to purchase food products, veterinary, cover the cost of labor in beef farming. The farmers can also have challenges financing their physiological, investments, and recreational needs (Patel & Lea, 2019, 8). In Oct. 2020, the UK-Japan trade deal was signed to necessitate trade relations with the Japanese-based export industry, and it was contrary to the EU trade bloc membership because Japan wasn't a member state in the EU deal. Other trade linkages with Norway, Liechtenstein, and Iceland were announced on 4th June, which built the EU rollover implemented on 1st Jan. 2021. The EU commission influenced the UK law enactment on a trade agreement in the Brexit contest because it supported the formation of a Brexit Adjustment Reserve, which provides substantial support to member states in case of adverse consequences caused by the UK's withdrawal from the EU trade bloc. Such consequences can include; socio-economic and territorial trade conflicts. The EU reserve strategy was necessitated to compensate states that incurred additional expenditures paid among member states to counter the negative impacts of the Brexit deal. The Brexit Reserve trade model is pursued regarding the EU objective to promote sustainable development as per Article 11, TFEU. The EU treaty complimented the UN SDG, the Paris Agreement, which stipulated the prevention of significant harm during trade agreements like the Brexit deal. Then, don't cause significant harm, the scope is supported in European Digital Agenda and Green Deal, and the partnership principles outlined in the European Social Rights Pillar, which have contributive aspects in the Reserve such as; gender mainstreaming and equality promotion, and elimination of inequalities in compliance concerning fundamental rights. EU Impact on UK Parliamentary Sovereignty The UK parliament sovereignty underwent a revolution associated with political sovereignty and turbulence that implicated the UK and EU in an integral function. For instance, the UK parliamentary system cannot pursue their authorities without a partnership with the EU commission. In 1992, the UK's first power transfer function was initiated in the Brussels parliamentary system. The EU has certain delimitations in action where they cannot enforce certain programs without collaboration with the UK. Therefore, the EU-UK parliamentary sovereignty exists in fluctuations status based on their collaborations, treaties, and agreements. The endorsement of the UK in EEC during 1973 affected the influence of EU rules and standards on the UK systems, which implicates power over UK parliamentary action in legal enforcement regarding trade relations and sovereign integrity (McConalogue, 2019, 17). The UK-EU exists in a binding element because the EU territorial borders dominate the UK; hence, the EU legalizes fishing within the UK territorial waters because it is EU waters. The EU also challenges the UK sovereignty because the UK being with EU totalitarianism, it's legally enshrined to allow respect of fundamental rights such as freedom of movement to non-UK citizens. The Post Brexit Deal had an intense negative financial fluctuation in the UK manufacturing industry because the UK had limited opportunities to trade with EU member states. The typology of goods and services under trade jurisdiction has little income rates for the SMEs, manufacturing, and farming sector. The Brexit deal indicated EU isolation of the UK and imposition of a free trade agreement with other states within the EU trade bloc and other states like; Australia, Japan, US, and a low GDP of less than 0.2% was incurred. For example, trading beef, fish, milk, and other low-priced farming products between the UK and Australia in free trade without taxation could foster low income for UK-based farmers and consequently suffer financial constraints. The Porters' Diamond Model is a theoretical framework that outlines elements like the government, which influences trade and the business sector. Therefore, EU- UK partnership relations have added advantage to UK-based companies because they can trade their goods and services across EU trade bloc membership. The government becomes a congruent factor in building trade agreements and necessitating financial allocation to grow locally founded manufacturing industries. It can also implement free trade mechanism to facilitate the withdrawal of tariffs, sanctions, and embargoes among the trade partners. For example, the UK government supported the no Brexit Deal with the EU. It promulgated the freedom of UK investors to trade with other foreign investors to increase income rates. The EU commission and parliamentary system have a great power influence in delegating matters that have been raised in the EU summit meetings in Brussels, which are held on an annual basis. They have the autocracy to regulate the amendment of laws within the member state's parliamentary system. The EU sets out trade regulations in the EU trade bloc to permit free trade lacking imposition of taxation, tariffs, embargoes, and sanctions on member states. The EU is authoritative and autonomous in member state predecessor appointments to promote its interests and regional trade standards. For example, after Boris' regime, the predecessor can revitalize the UK economy into EU trade Bloc based on EU appointment and political influence. P.M Boris Johnson politically predetermined the UK's decision to undertake the Brexit deal with the EU; hence, the aggravating EU-UK trade agreements underscored the performance of the UK in regional and international markets. Unfortunately, the UK will take time to increase its GDP profits without the mandate of EU member states and the commission in trade relations and deals. As a result of the Brexit deal of 2020, the EU Commission was influential in the UK parliamentary system consisting of the HM opposition party and the ruling party- conservative party P.M. Boris Johnstone (The Lancet, 2019, 848). The P.M missed a niche to be impeached by the UK parliamentary system after an EU sponsored a motion of Censure. However, a consensus of no Brexit deal was supported in the UK parliament, and the UK still retains its 33 EU member states in its current trade treaties and agreements. In conclusion, the Post Brexit transition period has been advantageous to UK sovereignty and independence because she has the freedom to trade with states in the EU trade bloc and internationally. However, the imposition of free trade agreements has a negative implication for UK small scale farmers, who will consequently earn lesser than expected. The Brexit deal opened up global opportunities for the UK and its investors; thus, it increased the percentile in GDP per fiscal year. I presume that the post-Brexit deal transition has been efficient and effective towards the UK's global trade and socio-economic growth and development because they have diverse trade partners who can bridge the losses incurred after the 2020 Brexit Deal. References Derek Hawes. (2019). What Brexit Means for EU and UK Social Policy. Contemporary European Studies. https://doi.org/-/-.ch006, 27(2), 106-129 Fajardo, T. (2020). Disentangling the UK from EU environmental agreements after Brexit. The Routledge Handbook on the International Dimension of Brexit. https://doi.org/10.4324/-, 1, 270-283 The Lancet. (2019). Brexit: Deal or no deal? The Lancet. https://doi.org/10.1016/s--x,-), 848 McConalogue, J. (2019). The impact of EU membership on the UK government and Parliament's sovereignty. The British Constitution Resettled. https://doi.org/10.1007/-_1, 1, 1-32 Patel, O., & Lea, N. (2019). EU-UK data flows, Brexit and no-deal: Adequacy or disarray? SSRN Electronic Journal. https://doi.org/10.2139/ssrn-, 1, 5-12