IFT is a private, not-for-profit, non-partisan research organisation making the intellectual & moral case for free trade. (RT≠endorse)
Nov 19, 2018 • 7 tweets • 1 min read
1/ With Theresa May’s proposed backstop placing the UK in a customs union with the EU, now is a good time to consider Turkey’s experience of being in an analogous (although inevitably not identical) arrangement. 🇹🇷
2/ Customs unions provide tariff free trade between members; remove the need for proving rules of origin between members; and apply a common external tariff for all goods covered by the agreement (“covered goods”).
