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Brexit: European Union agrees to extend deadline until Jan. 31

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European Council President Donald Tusk tweeted Monday that the European Union has agreed to accept the United Kingdom's proposal for a Brexit extension.

Tusk tweeted that the Brexit deadline has been extended until Jan. 31.

The UK previously was scheduled to leave the EU on Oct. 31 but does not currently have a trade deal in place with the EU. The EU has agreed in principle to a deal with the UK, but the deal has yet to be approved by Parliament.