A new study warns that Brexit has cut trade in almost every sector of the UK economy. The analysis attributes much of the economic cost to the UK’s exit from the EU single market, which it says has affected trade flows more broadly than narrowly targeted measures such as customs frictions. The report’s findings also argue that recent political calls for a new customs union with the EU would have limited impact on the overall trade losses, because the single-market departure is presented as a key driver of reduced trade. While the study highlights widespread effects across sectors, it does not present a single uniform impact size for all areas; rather, it concludes that reductions are broad-based across the economy. Overall, the sources describe the study as reinforcing concerns that leaving the EU’s integrated market arrangements has had measurable consequences for how UK firms trade with their partners.
Study finds Brexit reduces UK trade across most sectors
A new study warns that Brexit has cut trade in almost every sector of the UK economy. The analysis attributes much of the economic cost to the UK’s exit from the EU single market, which it says has af...
- A study says Brexit reduces trade in almost every sector of the UK economy.
- The study links much of the impact to the UK leaving the EU single market.
- The analysis suggests a new customs union would have limited effect on the broader trade declines.
- The findings indicate trade losses are widespread across different sectors, not confined to one area.
Much of the economic cost stems from UK’s departure from the single market – suggesting recent calls for a new customs union with the EU would have little impact
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