At a glitzy unveiling of new cars with electric and hybrid engines, Ford of Europe Chairman Steven Armstrong warned of the potentially disastrous effects of a no-deal Brexit, in which the country leaves without a deal on future trade relations. That could mean tariffs and border checks that could seriously disrupt businesses, particularly the auto industry.
"We've been very consistent since the referendum that a hard Brexit, a no-deal Brexit, would be a disaster for the automotive industry in the U.K. and within that of course I count Ford Motor Company," Armstrong told The Associated Press. "So anything that puts tariffs or friction at the borders in place would be a significant inhibitor to our business. We've been very clear in saying that could cost us up to a billion dollars a year.
Ford of Europe, based in Cologne, Germany, has 53,000 people working for it directly and 68,000 when joint ventures such as those in Russia and Turkey are included.
Source: Digital Coin News (digitalcoinnews.net)
This is rubbish.
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