Barnier's statement on the EU Commission's negotiating directives:
https://ec.europa.eu/commission/presscorner/detail/en/speech200_185
"....It is important, however, to understand that, even if we do achieve such a ‘best-in-class' free trade agreement, it will not be ‘business as usual'.
We will have two separate markets instead of one single market:
• <span class="italic">Rules of origin and customs formalities will apply between the UK and the EU;</span>
• <span class="italic">Access to the EU market will be subject to certification and market authorisation and supervision activities;</span>
• There will be no harmonisation or mutual recognition of rules.
• This means, for example, that <span class="italic">UK financial services suppliers will no longer have the passporting rights they used to enjoy under Union legislation.</span>
All imports of goods, or services supplied in the EU will need to comply with EU rules, be iton safety, health or other standards protecting our public policy objectives.
As a result, goods entering the Union will, for example, be subject to regulatory checks.
These are the automatic, mechanical consequences of the UK's choices.
Businesses must adapt now to this new reality."