UK import tariffs on German-made cars will rise by around 10%, while trucks and pick-up vehicles will face increased levies of 22%, if the UK crashes out of the EU with no deal, warned the German Association of the Automotive Industry. The plan will be financed through the expected budget surplus, narrowing the room for any additional measures. The association said that a “no-deal” Brexit would mean higher prices for consumers in Britain as well as lower sales to foreign buyers.
UK import tariffs on German-made cars will rise by around 10%, while trucks and pick-up vehicles will face increased levies of 22%, if the UK crashes out of the EU with no deal, warned the German Association of the Automotive Industry. The association said that a “no-deal” Brexit would mean higher prices for consumers in Britain as well as lower sales to foreign buyers.