UK-EU trade reset could boost growth but reignites customs union debate

A growing rethink of the EU-UK trading relationship is being driven by flagging post-Brexit trade with fresh talks on deeper market links, including the possibility of a customs union to reduce friction and cut costs. The current Trade and Cooperation Agreement eliminated tariffs but left exporters to grapple with red tape, rules of origin and non-tariff barriers, hurting trade flows. A customs union could spur trade creation by removing costly border checks and simplifying supply chains, lowering consumer prices and boosting GDP — but critics warn it might limit the UK’s independent trade policy and complicate deals with partners like the US and India.

EU has 'open mind' on UK customs union debate, says commissioner - BBC News

1. Explain the difference between the Trade and Cooperation Agreement and a possible customs union agreement between the UK and EU.

2. Assess the benefits to the UK of implementing a customs union with the EU.

3. Discuss whether rejoining the EU’s single market would be more beneficial for the UK economy than forming a customs union with the EU.