To the delight of big business, Britain will stay within the single market and customs union during this time.
And unless there’s a further agreement, Northern Ireland will remain in the single market afterwards, potentially weakening the British state’s ties to its oldest colony.
The Financial Times’ newspaper breathed a sigh of relief on behalf of British capitalism.
Bosses are desperate to remain in the single market, whose rules block socialist policies such as wholesale nationalisation.
But the Tory right is frustrated.
The Tories want to stick up for the bosses, but they also want to deflect people’s anger by scapegoating migrants.
This has meant pledging to dump EU migrants’ freedom of movement—which will now stay for the transition period.
Pressure will now mount on May from both wings.
And the deal will only provide temporary relief as the Northern Irish border proposal is unacceptable for sections of the Tories and their DUP allies.
The left has to fight for a socialist, anti-racist Brexit.
Socialist Worker stands for a Brexit that gives people across Ireland the right to break from Britain, quits the single market and defends freedom of movement.