A deal was found on Christmas eve and while both sides, Britain and the European Union, may have lost, the British loss seems bigger.
The 1256 pages of the deal are mostly about trade in goods, not about trade in services. While there will be no tariffs and quotas on goods there will be new bureaucratic measures imposed on goods exports.
But services like banking, insurance, and legal advice will have more difficulties. Adherence to British rules will no longer be sufficient to be recognized as legit within the EU. Service companies will have to adhere to local rules of other EU countries to do business with them. It is here where Britain is most likely to lose business.