What is the EU and how does it work? SUBSCRIBE: https://youtu.be/nE2uhv-ZCSw : The European Union is a complicated institution. Seemingly everything from fishing quotas to bendy bananas are regulated in some shape or form by the EU.
Understanding the EU, it’s many institutions, how they fit together, how laws are made and how much it costs is REALLY complicated.
… but what exactly is the EU? and how does it work? Alice Bird explains.
The European customs union is an agreement between 28 member states to trade goods more easily.
Paperwork and goods checks are reduced when goods cross borders of these countries.
It is agreed that there is no tariff to be paid on goods traded within the EU.
Trade deals with countries outside of the EU are agreed upon collectively and tariffs on goods exchanged with these countries are the same for each EU member country.
If the UK leaves the EU via a Soft Brexit we will still remain in both the single market and the customs union, avoiding disruption to trade.
A Hard Brexit meanwhile would involve the UK leaving the single market and customs union, with a loose trade agreement with the EU.
As a deal has not yet been decided upon, we may leave the EU with a backstop, the “insurance policy” in the withdrawal deal, designed to ensure there is no hard border between Northern Ireland and the Republic if a broader trade deal cannot be agreed.
A backstop would keep the UK in the customs union.
EU customs union – what is it and will the UK stay in it now a No Deal Brexit is dead?
What is Brexit and why’s the UK’s withdrawal from the EU plunged in chaos?
Who is Donald Tusk and what did the EU Council President say about a flexible Brexit delay?
What is the EU single market, will the UK leave it after Brexit and what will Theresa May’s Brexit policy mean for it?
When will Britain leave the European Union, when was Article 50 triggered and what is the Lisbon Treaty?
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