Customs Union and Single Market Explained
With the EU agreeing Theresa May’s Brexit deal and Cabinet members and MPs rebelling against the ‘soft’ withdrawal agreement. The words ‘single customs union’ and ‘single market’ have come into the conversation again.
Below we explain the differences between the two:
The UK exports 45% of its goods to the EU, and withdrawing could cause the UK to face tariffs or restrictions when it trades with the EU member states.
Within the market, goods, services and people are allowed to move freely from country to country.
Single market rules state that people from EU member countries can move freely between each member state.
Ensure compliance, resolve difficulties, manage efficiencies and reduce duty.
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