People cross the River Thames as they walk on the Millennium Bridge, near St. Paul's Cathedral, in London on January 16, 2017. AFP / BEN STANSALL
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British Prime Minister Theresa May was clear Tuesday that Britain would leave the EU's single market, but her desire for a customs agreement with the bloc highlights one of the Brexit cliff edges U.K.-based industry is seeking to avoid.With a free trade deal, Britain might avoid the standard EU import tariffs, such as 10 percent for cars, but without a customs agreement it would face having to prove its exported products are indeed British.May's goal is to wrap up a new arrangement in two years, far faster than any trade deal the EU has ever negotiated.Britain's former top diplomat to the EU in Brussels said in December it might take a decade to secure a new deal. Britain's Brexit Minister David Davis told Parliament Tuesday that Britain was at a different starting point as it already has the same standards of production as the EU and no existing customs barriers.
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