A post-Brexit customs arrangement between the UK and EU may impact trade in services, think tank Centre for Cities has warned. But customs unions typically involve dropping charges or checks on other countries’ goods, and the EU’s current customs union arrangements only apply to goods, not services. Cities are particularly dependent on services exports, which account for 77% of the UK total, compared to just 52% of goods exports. The report by the think-tank says that a new UK-EU agreement could lead to “significant changes” in how international companies operate across Europe. This, in turn, would hit the economic prosperity of many cities and those living and working in them, said Centre for Cities CEO, Andrew Carter.
A post-Brexit customs arrangement between the UK and EU may impact trade in services, think tank Centre for Cities has warned. Cities are particularly dependent on services exports, which account for 77% of the UK total, compared to just 52% of goods exports. The report by the think-tank says that a new UK-EU agreement could lead to “significant changes” in how international companies operate across Europe. This, in turn, would hit the economic prosperity of many cities and those living and working in them, said Centre for Cities CEO, Andrew Carter.