Brexit Tariffs May Cost Car Industry £4.5B A Year, Group Says

Law360, New York (November 30, 2016, 3:14 PM EST) -- A U.K. automakers trade group said Tuesday that import and exit tariffs could cost the industry £4.5 billion ($5.62 billion) a year if Britain fails to retain single market access to the European Union post-Brexit.

A 10 percent import tariff would add £1,500 to the average price of an imported car, making it imperative that the U.K. win market access in Brexit negotiations, the Society of Motor Manufacturers and Traders said in a statement.

"We made our case, but the British people chose to vote out, and that decision must be respected," SMMT President Gareth Jones said in a speech at...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!