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No deal
Britain leaving the European Union with no formal agreement on the terms of the UK’s withdrawal or new trade relations.
Hard Brexit
This phrase is often used by critics of Brexit who think it will harm the UK economy. A hard Brexit would be one where few of the existing ties between the UK and the EU were retained leading to more disruption than a Soft Brexit.
Soft Brexit
Leaving the European Union but staying as closely aligned to the EU as possible. It could keep the UK in the single market or the customs union or both. It could involve British compromises on free movement of people, allowing European Union citizens rights to settle in the UK with access to public services and benefits.
Norway model
An arrangement in which the UK would have to allow freedom of movement of people, make a contribution to the EU budget - smaller than it currently makes - and abide by the rulings of the European Court of Justice, in exchange for remaining in the single market.
Canada model
Refers to a free-trade agreement between the EU and Canada which removes lots of barriers to trade between the two, but not as many as the Norway model – which involves signing up to more EU rules, contributing to the EU budget and allowing the free movement of people.
Customs partnership
This proposal, also known as the hybrid model, would enable trade in goods between the UK and Europe without the need for customs checks. Proponents say it would help solve the Irish border question too, as the UK would collect the EU's tariffs on goods coming from other countries on the EU's behalf. If those goods stayed in the UK and UK tariffs were lower, companies could then claim back the difference.
https://www.bbc.com/news/business-45400994
