European Union ( EU ) That means seeking to remain in a customs union with the EU and within the single market during that period." Brexit leader Michel Cox prompted a sharp drop in the pound against the dollar and euro when he said the two - year transition period immediately following the UK exit from the EU was " not a given " . His statement came after a week of discussions which saw three issues divide the negotiators : the refusal to grant permanent rights to EU nationals who moved to the UK during the transition period , the UK 's right to object to new EU rules and laws , and its contribution to new justice and home affairs legislation .
European Union ( EU ) Brexit leader Michel Cox prompted a sharp drop in the pound against the dollar and euro when he said the two - year transition period immediately following the UK exit from the EU was " not a given " . His statement came after a week of discussions which saw three issues divide the negotiators : the refusal to grant permanent rights to EU nationals who moved to the UK during the transition period , the UK 's right to object to new EU rules and laws , and its contribution to new justice and home affairs legislation .