Politicians on the two sides of Brexit negotiations will have to “pull out all the stops” to protected an bold absolutely free trade deal, or possibility accrued losses that will run to €110bn (£101bn) by 2025.
The contact comes as the conclude of the transition period looms, with just fifteen weeks remaining to protected a trade deal in between the European Union and the British isles, and punitive Planet Trade Organisation (WTO) phrases applying if no agreement is reached by 31 December.
WTO phrases would apply a 10 per cent tariff on cars and up to 22 per cent on business vehicles, the two compensated by importers. Market leaders alert that these expenditures would “almost certainly” be passed on to buyers.
A total of 23 trade bodies from throughout EU nations, together with the UK’s Society of Motor Producers and Traders (SMMT), and the continent-vast European Automobile Producers Association (ACEA),