May said the deal so far “gives certainty to people and businesses.” Geert Vanden Wijngaert/Pool via Reuters
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British Prime Minister Theresa May welcomed the approval by European Union leaders Friday of a transition period to help businesses adapt after Brexit, telling the bloc to ride the "new dynamic" in upcoming trade talks. Endorsing their negotiating stance for trade talks due to start next month, the 27 other EU leaders at a Brussels summit confirmed a political, if not yet legal, commitment to let Britain effectively stay in the bloc – without a vote – until the end of 2020, or 21 months after formal Brexit next March.The Brexit schedule assumes the bloc and London would agree on the divorce deal, the transition and a framework for future trade in time for the 27 EU leaders to endorse it at a summit in October later this year, and have it ratified before Brexit on March 29, 2019 .
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