The value of the customs union to the UK is overrated

Support for a customs union is based on the belief that it makes sense for the UK to have frictionless trade with its biggest trading partner: no tariffs, no quotas, no customs posts, no border checks, unimpeded supply chains. Outside of the customs union, UK firms would have more forms to fill in, more red tape to disentangle. They would be disadvantaged in the way that American, Chinese and Japanese exporters to the EU currently are. No question, the customs union certainly makes it easier for multinational companies to ship parts and semi-finished goods backwards and forwards across the Channel. But the real test of the worth of the current system is whether it has done anything to improve Britain’s trade performance.