Jun 22, 2018

BMW joins Airbus in Brexit warning

It makes the Mini and Rolls Royce in the UK. Earlier, Airbus warned it could leave the UK if it exits the European Union single market and customs union without a transition deal. The customs union brings together the EU's 28 members in a duty-free area, in which they pay the same rate of duty on non-EU goods. Prime Minister Theresa May has ruled out staying in the customs union. Mr Robertson said he needed to know what the government's preferred position is on customs and trade within months or his company - and the UK's - competitive position could be harmed. Airbus, in its Brexit "Risk assessment" published on Thursday, said if the UK left the EU next year without a deal - meaning it left both the single market and customs union immediately and without any agreed transition - it would "Lead to severe disruption and interruption of UK production".

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