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Tuesday, July 3, 2018

SMMT tells Theresa May that a Brexit customs union must stay for car industry

Automakers have called on the U.K. government to back down from its "red lines" in Brexit negotiations, or risk putting hundreds of thousands of jobs at risk. The customs union which covers Europe was created in 1958 as part of the European Economic Community (EEC), which then evolved into the European Union (EU). The single market is a deeper form of co-operation between member states that allows the free movement of goods, services, money and people within the bloc. Hawes said Brexit uncertainty would provide "no dividend for our industry" and the current position with its "conflicting messages and red lines" was against the interests of the U.K. auto sector. Government must rethink its position on the customs union," he said.


Trump's tariff threats suddenly look very real for Germany's car industry

For as long as Donald Trump has been president, he has been threatening to slap tariffs on foreign carmakers to stop flashy German vehicles from "flooding" American streets. On Friday, he repeated the threat and attached a specific number, tweeting about a 20 percent tariff on all automobile imports from the European Union. On Friday, Trump suggested that auto tariffs would come in response to European trade practices. The Volkswagen diesel-emissions scandal tarnished the reputation of the entire industry, and German carmakers have been considered slow to shift to hybrid or electric vehicles. Now, their business with two of their most important markets could be disrupted - Britain because of Brexit and the United States because of tariffs.

Trump's tariff threats suddenly look very real for Germany's car industry

Brexit could make UK car industry 'extinct'

referring to The head of Britain's top business lobby group says the country's car industry could be wiped out by Brexit. "There is a risk that the auto industry in the UK faces extinction if there's no customs union after Brexit," warned Paul Drechsler, president of the Confederation of British Industry (CBI). "If we do not have a customs union, there are sectors of manufacturing society in the UK which risk becoming extinct," said Drechsler. The UK auto manufacturing sector employs over 800,000 workers and depends upon a complicated supply chain for shipping parts and cars. Related: Brexit could hurt UK car industry's electric dreamsThe auto industry is also sounding the alarm.

Brexit uncertainty puts thousands of jobs at risk, car industry warns

At a day long automotive summit, industry leaders lined up to warn of the perils Brexit uncertainty was causing. UK car output. UK car exports. The car industry is one of the leading employers in the country, responsible for 856,000 jobs, 186,000 of which are on the production lines. He said BMW was not intending to move any car production to any of its other plants around the world but it would be "foolhardy" not to have contingency ideas.

Brexit uncertainty puts thousands of jobs at risk, car industry warns

Trump's tariff threats suddenly look very real in the heartland of Germany's car industry

☰EuropeTrump's tariff threats suddenly look very real in the heartland of Germany's car industryEmployees work on a Porsche 911 sportscar on an assembly line in Stuttgart, Germany. It's a one-way street."On Friday, Trump suggested that auto tariffs would come in response to European trade practices. The region may send many goods to the United States, but it is also a major purchaser of U.S. services, particularly in technology. "People will still buy German cars," said Andreas Kramski, chief executive of a family business that makes billions of parts annually for auto manufacturers worldwide. "It wouldn't be very patriotic for an American to say, but it's a matter of fact: German cars are just better."Luisa Beck in Berlin contributed to this report.




collected by :Catlin Logan

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