The London Chamber of Commerce and Industry has welcomed the Brexit trade agreement, saying businesses would be "undoubtedly relieved" about the deal.

In a statement, chief executive Richard Burge said: "Whilst some changes from January 1 have been known, others have not and businesses will need to work their way through the detail of the deal and ascertain where the real-term impacts of Brexit may lay for them, their supply chains and customers."

Mr Burge added "businesses are aware this may not be the all-encompassing deal that was promised at the beginning of this venture.

"It’s important that both sides continue to be open minded to a need for future discussions, to ensure the best possible trade and access to goods and services in the years to come."

In early moments of relief, it's the tone that counts more than line-by-line analysis.

The post-Brexit trade deal has been met with a mixture of relief, sadness and optimism in Europe.

The EU and UK have reached a post-Brexit trade deal, ending months of disagreements over fishing rights and future business rules.

Reacting to the announcement, the mayor of London said there was "no doubt that this deal falls short of what’s best for London, the UK and our economy", and added that it "does not come close to the benefits we enjoyed as members of the EU".

In the statement, Sadiq Khan said: “The prime minister says his deal removes non-tariff barriers. That is untrue – it imposes them. From 1 January, hundreds of thousands of UK businesses are facing a costly, red tape mountain caused by the UK having to trade with the EU as a ‘third country’.

“However, now is the time for us to focus on the future, not the past. That’s why I will do everything I can to help Londoners and businesses to deal with this challenging new reality and to reassure European Londoners that they will always be welcome in our city. I will continue working for the UK to have a closer economic and political relationship with our EU friends in the future."

You can find out more about the deal here.

There is no precedent for the avalanche of new trade barriers that is coming after 1 January.

UK markets close for Christmas in upbeat mood, hours before the Brexit trade deal is announced.

The former trade secretary said extending the transition period would have created more uncertainty.

European exporters tell the BBC of their concerns about trade after the UK's exit.

The island's parliament announces it will meet on 27 December to decide if it will participate.

Businesses give a relieved welcome to the Brexit trade deal, but warn there is more work to be done.

The UK-EU trade deal will also provide tariff free access to France for fishing, the States say.

A look back at the UK's negotiations to leave the European Union - from vote to deal.

The EU and UK have reached a post-Brexit trade deal, ending months of disagreements over fisheries and business rules.

Grimsby Fish Market boss, Martyn Boyers, reacts to a Brexit deal having been reached. Fishing rights were one of the last points to be negotiated with the EU.

(Image: Haddock for sale at Grimsby Fish Market. Credit: Bethany Clarke/ Getty Images)

The first minister says the post-Brexit agreement is better than no deal but is difficult for Wales.

A deal helps mitigate some problems posed by the Irish Sea border but change is still on the way.

The EU and UK have reached a post-Brexit trade deal, ending months of disagreements over the future relationship.

It may solve some problems created by the new Irish Sea border but not them all.

The President of the European Commission announces the end of negotiations between the UK and EU.

The UK-EU trade agreement will be followed by claim and counter-claim over who gave most ground.