As negotiations between the UK and EU reach a final stage for the UK's 2019 departure terms, the SMMT has said that it would like a 'no deal' Brexit to be ruled out. A 'no deal' Brexit would likely mean a resort to WTO rules and the imposition of new tariffs (10% for cars) on UK exports to the EU customs union area (new EU import tariffs likely to be reciprocated by the UK). In addition, new border checks on goods shipments could disrupt 'just-in-time' pan-European supply chains.No tags for this post.
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