The UK and EU have agreed to link their carbon markets, POLITICO reports, the first of three Brexit files to close and set for unveiling at a November summit. That CBAM exemption is the real prize — B

What happened: Britain and the European Union have reached an agreement to link their emissions trading systems, four people briefed on the talks told POLITICO. The deal is set to be unveiled at a planned U.K.-EU summit in the coming weeks. Why it matters: One EU diplomat said the two sides are now just "tying a ribbon" on the agreement ahead of its official announcement. The negotiations began last year.

Britain and the European Union have reached an agreement to link their emissions trading systems, four people briefed on the talks told POLITICO. The deal is set to be unveiled at a planned U.K.-EU summit in the coming weeks.

One EU diplomat said the two sides are now just "tying a ribbon" on the agreement ahead of its official announcement. The negotiations began last year.