Brexit: What is the EU customs union and why should we care that the UK is leaving it?

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So, gone is all the meaningless talk of a hard Brexit, a soft Brexit, or a red, white and blue Brexit. We already know what Brexit means (it means Brexit, of course) – so today’s speech from the UK prime minster tried to inject a sense of progress: we have, apparently, moved to an “orderly Brexit”. What a relief. It was looking a little disorderly there for a while.

Anyway, orderly or not, the UK will leave the single market, says the PM, and will leave the Customs Union – yes, the one implemented at such great expense and time, just last year. The Independent has published a good explanatory article looking at what it all might mean for importers and exporters. Although it might come as little surprise that the main effect will be higher prices all round.