What does the Trade Bill do?published at 17:41 British Summer Time 11 September 2018
House of Lords debates the main principles of the Trade Bill
The bill gives the government the power to build trade relationships, and aims to help with the transition.
It does not address trade agreements themselves – these can only be struck after the transition period – but gives the government powers to change domestic legislation to fulfil obligations.
Secondary legislation powers will be granted to implement changes to trade arrangements.
The Trade Bill was introduced alongside the Taxation (Cross-Border Trade) Bill, which will deal with tariff barriers and customs.