▁valid ▁in ▁the ▁period ▁following ▁the ▁trans itional ▁arrang ements ▁set ▁out ▁in ▁the ▁With draw al ▁Ag re ement . ▁The ▁Johnson ▁government ▁has ▁set ▁a ▁target ▁date ▁of ▁ 3 1 st ▁December ▁ 2 0 2 0 ▁for ▁the ▁end ▁of ▁the ▁trans itional ▁arrang ements . ▁ ▁Compet ence ▁The ▁European ▁Court ▁of ▁Justice ▁has ▁held ▁that ▁invest or - state ▁Ar bitr ation ▁prov isions ▁( including ▁a ▁dedicated ▁trib unal ▁planned ▁by ▁some ▁free ▁trade ▁agre ements ) ▁falls ▁under ▁compet ency ▁shared ▁between ▁European ▁Union ▁and ▁its ▁member ▁states ▁and ▁that ▁for ▁this ▁reason , ▁their ▁rat ification ▁should ▁be ▁approved ▁by ▁the ▁EU ▁as ▁well ▁as ▁by ▁each ▁of ▁the ▁ 2 8 ▁states . ▁ ▁Imp act ▁One ▁study ▁found ▁that ▁the ▁trade ▁agre ements ▁that ▁the ▁EU ▁implemented ▁over ▁the ▁period ▁ 1 9 9 3 - 2 0 1 3 ▁" lower ed ▁quality - ad just ed ▁prices ▁by ▁close ▁to ▁ 7 % ." ▁ ▁See ▁also ▁▁ ▁Free ▁trade ▁area ▁Everything ▁but ▁Ar ms ▁ ▁List ▁of ▁free ▁trade ▁agre ements ▁ ▁List ▁of ▁bil ater al ▁free ▁trade ▁agre ements ▁ ▁EU - AC P ▁ ▁Econom ic ▁Part ners hip ▁Ag re ements ▁ ▁European ▁Union ▁Association ▁Ag re ement ▁ ▁E UR . 1 ▁movement ▁certificate ▁ ▁United ▁States ▁free ▁trade ▁agre ements ▁ ▁Euro - Med iter rane an ▁free ▁trade ▁area ▁ ▁Free ▁trade ▁areas ▁in ▁Europe ▁ ▁List ▁of ▁the ▁largest ▁trad ing