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Brexit Secretary Spells Out U.K. to Be Leaving EU Customs Union

  • Britain says EU needs London to remain a financial center
  • Negotiating plan for Brexit sets out prime minister’s goals
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Brexit Paper Seeks 'Freest' U.K.-EU Financial Trade

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The U.K. will be leaving the European Union’s customs union to gain control over its own tariffs and negotiate trade deals around the world, Brexit Secretary David Davis said as he outlined the government’s vision for Britain’s future outside the bloc.

Prime Minister Theresa May will seek to agree on a “mutually beneficial new customs arrangement” between the U.K. and the EU during Brexit talks, according to a new document published Thursday. Britain is also aiming for the “freest possible” trade in financial services with the bloc after Brexit.