FIRST AIRED: August 15, 2017

Nice work! Enjoy the show!

×

You’re busy. We get it.

Stay on top of the news with our Editor’s Picks newsletter.

US Edition
Intl. Edition
Unsubscribe at any time. One click, it’s gone.

Thanks for signing up!

×

Transcript

00:00:00
>> Britain wants a temporary customs union with the EU to ensure free trade after Brexit. But it would seek out other trade deals at the same time, which could be a sticking point. Members of the EU Customs Union aren't generally allowed to negotiate their own trade pacts. But Brexit minister, David Davis, said the deal would be in the interest of both parties.
00:00:20
>> They're selling us 290 billion, we're selling them 230 billion a year. It's in their interest. BMW do not want to have to have a customs border that is going to slow down their sales or add administrative cost. Siemens is not gonna want to do that. And the port of Rotterdam is gonna want to have an efficient operation.
00:00:40
The biggest port in Europe, gonna want to have an efficient operation. So they've got an interest as well as us.>> Tuesday's proposals aim to give businesses more certainty. They fear customs checks will cause expensive delays. Big firms welcoming the proposals, but warning the clock is ticking to get it right.
00:00:56
The government also hopes the plan could avoid a hard border between Northern Ireland and the Irish Republic, which is an EU member. But an opposition politician said the government wanted to have its cake and eat it. And many in Brussels may think the same. UK Prime Minister Theresa May has made clear Brexit means leaving the EU Customs Union.
00:01:16
Exactly when though, that's now open to question.