Divergence, at what cost?

The EU-UK Trade and Cooperation Agreement is a free trade agreement like no other: the first between parties negotiating from a position of regulatory convergence; the first trade deal in which the EU has accepted the principle of no tariffs and no quotas, but also the first trade deal which not only incorporates provisions that can broaden and deepen the Agreement’s scope, but also narrow it. However, at what cost are the parties willing to increase divergence, asks Totis Kotsonis (Pinsent Masons LLP)?