The stakes are considerable. Britain ships nearly half its exports to other European Union members.
this misses the fact that nearly one-third of the goods and services consumed in Britain are imported. In dollar terms, the price of those goods and services is spiking. Eventually, economists assume, this inflation will work its way through the economy, further depressing growth by crimping consumer spending and potentially sowing unemployment.
Germany and France have made it clear that the Brits won't get to have their cake (free trade) and eat it (immigration wall) too. Although Boris Johnson says:
Our policy is having our cake and eating it.
Not bloody likely Boris.