Brexit: Britain formally leaves European Union after 47 years

The United Kingdom formally left the European Union, ending 47 years of membership.
Britain’s exit was celebrated as an independence day by Brexiteers with many toasting to the moment. The United Kingdom has become the first-ever nation to leave the European Union.
Brexit was inevitable after the 2016 Brexit referendum when 51.9 percent votes were cast to leave the EU, while only 48.1 percent votes supported the referendum to stay in the European Union.
Britain’s exit from the European Union has, however, just initiated the divorce proceedings between the two, as future terms of trade and exchange will need to be agreed upon.
Queen Elizabeth II gave her royal assent to the Brexit bill on January 23, 2020, paving the way for Britain’s smooth exit from the European Union.
The UK Parliament ratified the Brexit law on January 22, 2020, finally approving the terms of Britain’s historic departure from the European Union on January 31.
After Brexit, the UK will continue to remain under EU trade rules until December 31. After this, the UK and EU will have to sign new trade deals on almost everything, ranging from trade in goods and services to fishing, aviation, medicines and security.