Until 31 December 2020, the UK will definitely remain part of the EU's customs union. The countries will also remain part of the EU single market until that date. An agreement was reached this week.
Without the deal, the UK would no longer have been part of both the customs union and the single market after 29 March 2019. So good news for entrepreneurs, as they can use the customs rules in place between the UK and the EU until 2020. They thus have more time to prepare for any new rules associated with the Brexit.
Clarity
It also gives Brexit negotiators more time to decide what the new regulations will look like. The rules will apply throughout the UK, with the exception of the Ireland-Northern Ireland border. Transport Logistics Netherlands (TNL) says it is happy with the agreement, but says it is important that there is clarity soon on what will happen after 2020.
