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The EU/UK Withdrawal Agreement is NOT a Treaty between States

The Vienna Convention on the Law of Treaties defines treaties as agreements between states. But the EU is not a state, it is an international organisation. So, the Withdrawal Agreement does not have the status of a treaty. The EU is not a party to the Vienna Convention, so it can hardly invoke its provisions.

https://legal.un.org/ilc/texts/instruments/english/conventions/1_1_1969.pdf

(See House of Commons Library, Could the Withdrawal Agreement be
terminated under international law? 19 March 2019.)

It is legitimate to terminate a treaty if the terms of the treaty become injurious to a state:

if by such treaty either wholly or partly the terms of treaty become injurious to one of the parties, thereby adversely affecting the interest of that state. In such circumstances, there is conflict as to the sovereignty of the state, whereby
sovereignty of that state is in danger. Its survival is more important than such obligations. In such cases of conflict, the law makes it very clear that any contractual obligation comes to an end.

See SRD Law Notes on Termination of Treaties.

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