customs union

The Convention isn't quite a customs union but removes customs on the components that go into a product that are sourced from the other countries signed up to it.

Sir Keir has ruled out rejoining the EU customs union and the single market, declaring it a "red line".

The government has also pledged the UK will not rejoin the customs union - an agreement between EU countries not to charge taxes called tariffs on things coming from outside the bloc.

Economists and analysts generally assess the impact of leaving the EU single market and customs union on 1 Jan 2021 on the UK's goods trade as having been negative.

On the Pan-Euro-Mediterranean Convention he said it did not cross red lines because "it is not a customs union".