Brexit - (overnight comment) UK Chancellor Javid says frictionless trade with the EU to be "over"

UK Chancellor Sajid Javid on the introduction of UK border customs checks after the Brexit transition period.

• frictionless trade with the EU would be "over"
• said supply chains "would be protected"
• "Of course, we are not going to have completely frictionless trade because we have left the [EU] customs union and single market," he told BBC economics editor Faisal Islam."That is a deliberate decision, because we have a better future as an independent sovereign nation trading with European friends, but also trading more so with the rest of the world."
• He said the government would defend automotive and other industries that rely on frictionless trade, promising "complete equivalence"

via a BBC report, link here for more.

Difficult to see how having border check paperwork will not drive up costs. Still, early days for talks with the EU - FTA is not off the table yet.