In the event that the EU and Britain cannot reach an agreement for a post transit trading relationship, Britain will rvert to WTO terms.
There would be border checks and tariffs.
As the Spectator points out, in normal times this would be
regarded as the biggest economic shift in a generation. However, coronavirus
has collapsed world trade and travel, dwarfing any changes Brexit might
bring.
Britain has in effect already crossed that Rubicon, along with every other country in the world.
It's a new game with a new rules!
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