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Chancellor rules out rejoining customs union but emphasizes the need for the UK to strengthen post-Brexit trade with European partners, in light of challenges faced by British firms exporting to Europe. Despite rejecting re-entry into the EU customs union, the government is determined to enhance trade relations with European countries to counter the impact of Donald Trump’s escalating trade war. Rachel Reeves underscores the urgency for the UK to prioritize and bolster its trading ties with the EU for economic stability post-Brexit.
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