EU has just released a set of new position papers on Brexit 7 Sept
GBPUSD up to post 1.3093 but with EURUSD also on session highs of 1.1980 with EURGBP 0.9150
Says the EU in the paper on Customs Union:
- Essential principles on customs related matters needed for an orderly withdrawal of the UK from the Union As of the withdrawal date, the United Kingdom will no longer be part of the customs and tax (VAT and excise) territory of the Union. Consequently movements of goods between the UK and the EU 27 will constitute third country trade. The principles outlined in this paper aim to ensure an orderly withdrawal of the United Kingdom from the Union in respect of customs related matters.
- To this end, the Withdrawal Agreement should determine the customs status (Union and non-Union goods) of goods that enter, leave or transit the customs and tax territory of the Union, the United Kingdom or the EU27, where the movement starts before and ends on or after the withdrawal date, and the legal provisions applicable to them. It should also set out the appropriate treatment in relation to VAT and excise duties and licencing requirements in those circumstances.
- Furthermore, principles have to be agreed on administrative cooperation procedures ongoing at the withdrawal date as well as cooperation procedures launched after the withdrawal date and relating to facts which occurred prior to that date.
All papers can be found here
Paper after paper from both sides but still seemingly no closer to agreement.
