Zero-tariff trade has become the number one priority for the UK after Brexit. Without a tariff-free trade deal, everything can get more expensive and difficult. Imposing tariffs would require bonded warehousing, to minimise the duty paid on moving goods. Though the EU is ready to offer a highly ambitious trade deal that includes zero tariffs and quotas, it would also demand specific and effective guarantees to ensure a level playing field.

The EU is the UK’s largest export market. Three fourths of the UK’s exports go to the EU across the fashion and textile industry, so an additional cost on top of that would be catastrophic. It will also be important for the UK and Turkey to secure a separate trade deal. Turkey is a big fabric supplier, and has a customs union with the EU, so the UK will have to do a deal.

At the same time there would be no need for a free trade agreement to involve accepting EU rules on competition policy, subsidies, social protection, the environment, or anything similar, any more than the EU should be obliged to accept UK rules. The UK exited the bloc on January 31, 2020.