24.8 C
New York
Thursday, July 7, 2022

Ford says a no-deal Brexit would cost it $800 million this year: Sky

Ford says a no-deal Brexit would cost it 0 million this year: Sky© Reuters. FILE PHOTO: Britain’s Union flag flies outside the Ford stamping plant in Dagenham, Essex

LONDON (Reuters) – Ford faces an $800 million bill if Britain leave the European Union without a deal, comprising World Trade Organisation tariffs and the impact of a weaker pound, Sky News reported on Thursday, citing internal calculations from the auto company.

Car makers and other manufacturers, including Airbus earlier on Thursday, have warned about the toll a no-deal Brexit could impose, including higher tariffs, disruption to supply chains and threats to jobs.

Britain is due to leave the European Union in 64 days, and with Prime Minister Theresa May failing to win support for her negotiated deal, companies are increasingly worried about the possibility of a chaotic Brexit.

Ford operates two engine plants in Britain, its third-largest market, and the destination for roughly one in three cars made at its German Cologne plant.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

11,296FansLike
12,893FollowersFollow
751FollowersFollow
- Advertisement -

Latest Articles

Popular Articles