TOKYO — Japanese automakers Toyota and Nissan would search reimbursement from Britain if the federal government fails to agree an EU commerce deal, the Nikkei monetary each day reported on Monday.
The businesses are bracing for a further 10% EU tax on car imports from Britain and are demanding that the federal government pays for such extra customs prices, the report stated, with out citing sources.
British Prime Minister Boris Johnson on Sunday stated that he didn’t notably want for a Brexit transition interval to finish with out a new commerce deal in place however that Britain might stay with such an end result.
Officers for Nissan and Toyota had no speedy remark when contacted by Reuters.
Nonetheless, the report underscores how Britain’s tortuous divorce from the European Union has implications for firms across the globe, together with in Japan, the world’s third-largest financial system.
Toyota operates a plant in Derbyshire, central England, and produced roughly 8% of the 1.52 million automobiles made in Britain in 2018. It additionally produces engines at a manufacturing unit in Wales.
Nissan has a producing plant in Sunderland, northern England, that employs 7,000. That might be “unsustainable” if Britain leaves the EU with out a commerce deal, Nissan stated in June.