The UK Government has confirmed it will seek a transitional customs union deal in a new paper published yesterday, claiming a permanent customs arrangement with the EU could be in place by mid-2019. Read BAB’s Summary of the Customs Union paper here
Speaking on the release of the position paper, BAB Director of Policy and Trade Emanuel Adam said:
“BritishAmerican Business welcomes the UK Government’s proposals for a future customs relationship with the EU as well as its aim to explore a model for an interim period that offers frictionless trade across the borders and helps avoid a cliff edge scenario.
Minimizing any disruption to business through an agreed transition period and providing clarity on the future trading relationship with the EU as early as possible have been a key ask by the transatlantic business community, which includes major American investors and leading British firms.
Both options presented, however, are still likely to increase the burden for businesses who trade between the UK and the EU. We therefore continue to advocate for a model that is as close as possible to existing arrangements. This will be essential in maintaining the United Kingdom’s status as a desired trade and investment partner.
Our businesses are looking forward to continuing its strong engagement with the UK Government on achieving this aim”.
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