In 2016, a referendum was held in the United Kingdom (UK) about the country’s stay in the European Union (EU). 51.9% of people voted in favour of leaving the EU. Following such results, the British Government informed the Council of the European Union of its intention to leave and began negotiations with the European Commission. The talks contained some of the topics such as, for example, protecting the rights of EU and UK citizens, settling mutual financial obligations, regulating future relations. In order to continue cooperation in the exchange of goods and services, it was also of great importance to reach an agreement in the field of competition law. On January 1st 2021, the EU-UK Trade and Cooperation Agreement entered into force, providing that trade would continue to take place without the need to pay customs duties under certain conditions. Although the UK has been given the freedom to regulate its migration policy, the UK Government found it devastating that the border between Northern Ireland and Ireland will have to remain open to maintain the flow of people, goods, and services accessible and without border control. In 2018, European Union (Withdrawal) Act set out a legal framework allowing the British Government to incorporate EU law in its domestic legal system. Some of the rules applicable in the EU will continue to apply in the UK, but this does not apply to changes entering into force after December 31, 2020. The UK's exit from the EU also significantly damaged the EU budget, as the UK was one of the three largest economies within the EU. In addition, the UK's exit from the EU has dramatically shaken the trust of citizens of individual Member States towards the EU and European integration.