EU Suggests Customs Union Plan to Boost UK-EU Trade Links
EU Suggests Customs Union Plan to Boost UK-EU Trade Links
The EU has proposed a 'pan-European customs area' that could help the UK rejoin supply chains hit by Brexit barriers. The idea, backed by some business groups, would allow Britain to source parts and ingredients from dozens of countries for tariff-free trade. The EU's trade chief, Maros Sefcovic, said the plan has not been 'precisely formulated' by London yet and the 'ball is in the UK's court'. The UK government has begun consultations with business over the benefits of the PEM plan. However, housing minister Matthew Pennycook ruled out the UK's participation in the arrangement 'at the present time'.