LATEST: The UK and the EU agree on a historic post-Brexit trade deal

After months of negotiation, the UK and the EU have agreed on a post-Brexit trade deal days before the deadline, which would come into place on January 1.

The trade agreement will have to be approved by the UK and EU parliaments.

EU Commission President Ursula von der Leyen said, “It is fair, it is a balanced deal, it is the right thing to do for both sides.”