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Old 05.09.2016, 15:36
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Re: The Brexit referendum thread: potential consequences for GB, EU and the Brits in

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Maybe I misheard it, but I thought they said on BBC TV the other day that reverting to WTO rules would mean that a 10% tariff would be imposed on cars, thus wiping out Japanese car manufacturers' profit margins in the UK and making it more worthwhile for them to relocate to the EU.

Ian Duncan Smith was interviewed on Radio 4 yesterday lunchtime and said he was in favour of reverting to WTO rules. As far as I remember, he didn't mention the car industry.
Perhaps you did not notice that the value of the fell more than 10% since the Brexit vote, so those Japanese British built cars sold in Europe will make an even bigger profit after a 10% tariff than the status quo 3 months ago.

If Brexit is cancelled & the rises 15% those companies will be worse off........ Journalists usually miss the point, that what counts to companies is net PROFIT, nothing else is of much interest.
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