Brexit deal finally done
Prime Minister Boris Johnson tweeted a picture of himself with thumbs up captioned: "The deal is done."
Initial reaction from business groups was relief a deal had been struck.
Babs Murphy, Chief Executive of the North & Western Lancashire Chamber of Commerce said: "Following more than four long years of uncertainty, businesses can now breathe a sigh of relief as they have clarity and a basis to move forward.
"It is now time to digest the agreement and consider what its detailed provisions will mean for firms moving goods, people, and data across borders.
“This Brexit Deal is good news for businesses and subject to ratification, will allow businesses to properly plan for the future for the first time in nearly half a decade."
The fine detail is expected to emerge in the coming hours.
British Chambers of Commerce Director General Adam Marshall said: “After four long years of uncertainty and upheaval, and just days before the end of transition, businesses will be able to muster little more than a muted and weary cheer.
“While firms will welcome the agreement of a new foundation for UK-EU trade, they are now faced with the gargantuan task of adapting to new arrangements with scarcely a week before they take effect.
“Businesses will need to digest the contents of the deal and consider what its provisions mean for the movement of goods, people and data across borders, as well as for their supply chains and partners.
“We repeat that it is the responsibility of Government to give firms clear, precise and detailed guidance so that they can make the required changes quickly. Far too many details and procedures have been left, literally, to the last minute."
Trades Union Congress General Secretary Frances O’Grady tweeted: “This deal is better than nothing. But not by much.
“This agreement is on the PM’s head. It’s his responsibility to make sure working families don’t end up worse off.
“The govt must build on this deal to protect jobs. And unions will not accept any diluting of workers’ rights.”