Customs Unions are a hot topic in the mainstream media this week, both Government and opposition have commented in recent days. We saw a lot of miss-information and miss-understandings and so have been reading around the subject. We came across this short article by Iana Dreyer (@IanaDreyer) writing for for UK Trade Forum.
The main points covered:
- Customs Unions are closely tied to political integration.
- The difference between Free Trade Agreements and Customs Unions.
- Trade liberalisation and domestic constraints.
- Reducing trade cost but NOT eliminating them.
- What happens when political integration fails?
- Brexit implications
Full credit to Iana Dreyer for this article. Link below
Iana covers the key subjects concisely and accurately, far better than we could. Worth a read, we recommend it, link below, it’s a great starting point on this topic.
Link to Iana’s article https://goo.gl/zBXCxh