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3 years ago

UK Consumers at Risk: Customs Union Could Subsume Interests to EU

SSRN Electronic Journal
The Consequence of a Permanent Customs Union
Shanker A. Singham

Paper Summary

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A customs union with the EU would have big costs for the UK and wouldn't fully get rid of trade issues. To fix this, the UK would need to follow EU rules for goods. This could put UK consumers at risk in EU trade deals, favoring EU producers over UK ones. If the UK had to follow EU trade defense policies, prices could go up to help EU manufacturers, leaving UK manufacturers unprotected.