Officials from the U.K. and the European Union have agreed to a 21-month-long Brexit transition period.
The U.K. is scheduled to leave the EU on March 29, 2019. The transition period will start then and last until the end of 2020.
The 21-month period falls in line with what EU negotiators wanted. U.K. Prime Minister Theresa May had asked for a slightly longer transition period lasting two years.
The transition period is supposed to provide more time for U.K. businesses to adapt to Brexit. The U.K. will still be bound by all of the EU's rules during that time, but it won't be involved in any EU decision making.
One thing negotiators on both sides still haven't made a final decision on: what happens to Northern Ireland after Brexit. Another round of talks — this time solely centered on all things Ireland — start next week.
