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Reminder: Theresa May's deal is a hard, no deal Brexit, only with the pain deferred. Why? Because the hardness of Brexit depends on what ends up replacing all the treaties and trade agreements we will lose on Brexit Day. And Theresa May's deal leaves that question wide open.
So the transition period will disguise most (but not all) of the problems that the loss of those treaties will bring. But they'll still be gone. And after transition we will feel the full impact of their loss (hard Brexit) unless they can be replaced during transition.
It didn't have to be that way. We could have plumped for a specific model of a future relationship already (eg Norway+) and just finished the fine detail during transition. Instead, Theresa May has carefully chosen ambiguity to try to minimise the split within her party.
