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UK car industry says full EU deal not possible over two years
20/06/2017 12:00
Britain's car industry does not believe the UK will be able to strike a full and comprehensive Brexit deal with the European Union during the course of two-year talks and must secure interim arrangements to help safeguard the sector.
"Our biggest fear is that, in two years' time, we fall off a cliff edge - no deal, outside the single market and customs union and trading on inferior WTO (World Trade Organisation) terms," said Mike Hawes, chief executive of Britain's Society of Motor Manufacturers and Traders (SMMT).
"We need government to seek an interim arrangement."
Britain’s overwhelmingly foreign-owned car industry wants to preserve unfettered access to its biggest export market and also ensure that just-in-time delivery of parts is not disrupted by tariffs or border checks.
Only 44 percent of parts which go into a British-made car come from Britain, the SMMT said on Tuesday.
"Our biggest fear is that, in two years' time, we fall off a cliff edge - no deal, outside the single market and customs union and trading on inferior WTO (World Trade Organisation) terms," said Mike Hawes, chief executive of Britain's Society of Motor Manufacturers and Traders (SMMT).
"We need government to seek an interim arrangement."
Britain’s overwhelmingly foreign-owned car industry wants to preserve unfettered access to its biggest export market and also ensure that just-in-time delivery of parts is not disrupted by tariffs or border checks.
Only 44 percent of parts which go into a British-made car come from Britain, the SMMT said on Tuesday.
June 20, 2017
Source: Reuters
Source: Reuters
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