The move would have profound implications for Britain’s economy and could potentially trigger customs check at EU borders, including the one between Northern Ireland and the Republic of Ireland. The move is also likely to rid Britain from EU’s single market bloc risks UK’s exporters facing higher tariffs and trade barriers.

The BBC reported citing a source in British Prime Minister Theresa May’s Downing Street Office, that Britain has ruled out any form of customs union with the European Union after March 31, 2019.

May’s office declined to comment on the report.

“It is not our policy to be in the customs union. It is not our policy to be in a customs union,” reported the Guardian newspaper citing an unidentified Downing Street source.

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