German Industry Calls for Customs Union to Ease Brexit ‘Horror’
- Need to prepare for hard Brexit, BDI umbrella group warns
- Emergency plans loom if EU can’t agree on transition period
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German industry called for a customs union between Europe and the U.K., saying it would soften “the horror of Brexit.”
Declining trade with Britain, the threat of U.K. regulatory hurdles to German industrial exports and the risk that talks will end in a “hard Brexit” require a broader solution than a free-trade agreement, Germany’s BDI industry federation and the VDMA machinery association said on Tuesday.