Britain, the world’s fifth largest economy, will crash out of the EU unless Parliament passes Prime Minister Theresa May’s withdrawal agreement.
Should a no-deal Brexit happen, then Britain would have to operate under World Trade Organization rules, meaning all cars would incur 10% tariffs the moment they cross the U.K.-EU border.
Ford Europe Chairman Steven Armstrong told the Associated Press that the automaker would also “have to consider seriously the long-term future of our investments in the country” in the event of a no-deal Brexit, adding that “a no-deal Brexit, would be a disaster for the automotive industry in the U.K. and within that, of course, I count Ford Motor Company.”
Read the article at Fortune.
The post A ‘No-Deal Brexit’ Jeopardizes Auto Industry appeared first on Fleet Management Weekly.
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