The UK-EU trade denominator and Dr. Evil

Neil Wilson:

"I notice the UK-EU trade denominator game is doing the rounds again. Here's the correct view thanks to @FullFact"

Why not first listen to Dr. Evil:

“Until the UK’s exit is complete, Britain will certainly have to fulfil its commitments,” Schäuble told the Financial Times (paywall). “Possibly there will be some commitments that last beyond the exit … even, in part, to 2030. Also we cannot grant any generous rebates.”

... before pointing to some facts.

UK - EU trade

Trade with the EU matters a lot, but less than it used to. There are certainly "some commitments that last beyond the exit", but more so with German exporters.