For the time being, the European Union can continue to exchange information with the United Kingdom, even now that the country is no longer part of the Union. According to the European Commission, the UK authorities protect privacy sufficiently.
The EU has strict rules on the protection of personal data. They no longer apply in the UK since Brexit came into force on 1 January. As a result, British companies, for example, threatened to lose access to data of customers in the EU. It would also be less easy for EU and UK law enforcement agencies to cooperate unless London and Brussels agreed on their mutual data protection before 1 July.
The European Commission’s favourable opinion of the UK privacy rules is in principle valid for four years and can be renewed. However, should the British change the rules in the interim in a way that the commission does not like, the commission can reconsider.
The agreements do not apply to the transfer of data for British asylum policy. London and Brussels are still working on that.