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No-deal Brexit to cost car industry more than $6 billion

Posted On: Sep. 24, 2019 6:38 AM CST

Cars at British port

European automotive trade groups have said that new tariffs could cost the European car industry $6.3 billion if Britain departs the European Union without an agreement, Daily Sabah reported. If Britain withdraws without a deal on issues such as citizens' rights, tariffs governed by the World Trade Organization would be imposed. Consumers would be charged higher prices if car manufacturers cannot absorb the additional costs.

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