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I presume these words were extremely carefully chosen by the Japanese PM, and they are not terrible comfortable for anyone in the UK... 
Defining Global Britain in an age of Global Value Chains. Many companies export end products to non-EU markets, but a large part of our trade in integrated with the EU, whatever the final destination. What happens when barriers to that UK-EU trade increase?
The issue of Global Value Chains and Brexit is not just a goods problem, being outside the single market for services may also prevent the UK participating fully if UK companies supplying goods cannot also supply associated services.
None of this means trade comes to a halt with no deal, or the PM's deal. But that increasing frictions means companies will look for alternatives, as they are doing, and that is where you pay an economic price which may be hard to make up elsewhere.
