We would continue to have unfettered access to EU trade, but the pledge to “take back control” of laws, borders and money would not have been fulfilled. That would see the UK leave the single market and customs union and end free movement of people. The Canada deal A comprehensive trade deal like the one handed to Canada would help British traders, as it would lower or eliminate tariffs. No deal Britain leaves with no trade deal, meaning that all trade is governed by World Trade Organization rules. The problem, however, is that the two UK customs proposals in question would require unprecedented levels of trust and cooperation – possibly even more so than the current arrangements between member states.

Source: The Guardian April 20, 2018 14:52 UTC