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11 Mar
17:04

No-deal Brexit seen disrupting UK carmakers' operations

A no-deal Brexit will disrupt the operations of global automakers with notable production capacity in the UK, says credit rating agency Moody’s A no-deal Brexit would see the cessation of tariff-free automobile trade with EU countries, with UK-made cars imported into the EU facing a 10% auto tariff, in line with taxes paid by non-EU countries, Moody’s observes. In 2018 over 80% of UK production was exported, with about half going to the EU. Further, …
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