uk manufacturers urge pm may to drop threat of no brexit deal
Last Updated : GMT 09:07:40
Egypt Today, egypt today
Egypt Today, egypt today
Last Updated : GMT 09:07:40
Egypt Today, egypt today

UK manufacturers urge PM May to drop threat of no Brexit deal

Egypt Today, egypt today

Egypt Today, egypt today UK manufacturers urge PM May to drop threat of no Brexit deal

Car Industry
London - Arab Today

Britain's manufacturers told Prime Minister Theresa May on Monday to drop her threat that she might take the country out of the European Union without a new trade deal, saying they would bear the brunt of trade barriers with the EU.

May plans to trigger the two-year Brexit process on Wednesday and she has warned the other 27 EU countries that no deal would be better than a bad deal. 

"The idea of being able to walk away empty-handed might be a negotiating tactic, but it would in reality deliver a risky and expensive blow," Terry Scuoler, chief executive of EEF, Britain's manufacturing lobby, said.

"The rhetoric from the UK government needs to focus instead on achieving a deal that will work for the UK and the EU."

May has decided to make control over immigration her priority for Brexit, and has conceded that Britain must give up its membership of the EU's single market and customs union in order to achieve that.

In the absence of a deal, trade between Britain and the EU would default to World Trade Organization rules and tariffs.

The EEF said British manufacturing exports to the EU — such as cars, chemicals and machinery — could face tariffs averaging 5.3 per cent. There was also the risk of other obstacles to trade through customs procedures and higher compliance costs.

Just over half of Britain's manufactured exports, as measured by value, go to the EU. Many factories rely on goods and parts crisscrossing the bloc during production, leaving them particularly exposed to any increase in trade barriers.

The EEF called for close consultations with the government on its Brexit strategy and said a transitional period to ease Britain into its new relationship with the EU was essential.

Britain's Brexit minister, David Davis, has said that since last year's referendum, the government has not assessed the economic impact of leaving the EU without a new trade deal.

Manufacturing accounts for about 10 per cent of Britain's economy. Companies in the much bigger services sector are also worried about their future access to the EU's single market, especially in the banking industry.

Separately on Monday, a think tank welcomed the government's plan to leave the EU customs union as the best way for Britain to strike trade deals with other countries, despite the risk of disruption in trade with the bloc.

"The UK and the EU should aim for full customs cooperation as part of a comprehensive free trade agreement," Open Europe policy analyst Aarti Shankar said. "This is perfectly achievable, and the EU already holds customs facilitation agreements with other trade partners, including Switzerland and Canada."

Source :Times Of Oman

egypttoday
egypttoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

uk manufacturers urge pm may to drop threat of no brexit deal uk manufacturers urge pm may to drop threat of no brexit deal



GMT 06:29 2011 Monday ,14 November

Matthew cruises to win at Ochoa Invitational

GMT 03:34 2017 Wednesday ,22 March

Tillerson to skip NATO meeting next month

GMT 13:44 2013 Friday ,15 March

Israel suppress Palestinian demonstrations

GMT 16:15 2017 Monday ,01 May

Moroccan Workers’ Syndicate

GMT 11:56 2016 Wednesday ,12 October

Toyota, Suzuki eye partnership as industry consolidates

GMT 15:42 2011 Thursday ,23 June

Express checks in with foursquare

GMT 10:49 2017 Sunday ,13 August

Car rams into crowd at violent Virginia rally

GMT 17:45 2013 Sunday ,20 October

5 Indian spices that are good for your health

GMT 08:41 2012 Saturday ,15 September

Italian magazine: will print Kate topless snaps

GMT 08:02 2012 Tuesday ,05 June

Zoe Saldana in Prabal Gurung

GMT 06:11 2012 Saturday ,15 September

Tunisia’s Media Conflict: Journalists fight for freedom

GMT 14:35 2015 Friday ,24 July

Awqaf Minister hails New Suez Canal project

GMT 16:34 2017 Thursday ,28 December

Hitler's Nazi-parade Mercedes set

GMT 11:22 2011 Monday ,10 October

Paul McCartney to play in Moscow in December

GMT 05:17 2015 Friday ,25 September

Pope expresses solidarity with Muslims after stampede

GMT 05:44 2012 Saturday ,21 April

ATV engine 95 HP

GMT 03:01 2011 Monday ,19 September

Laughter, tears at US television\'s Emmy awards

GMT 12:04 2012 Wednesday ,07 March

6 Music animation draws on 10 years of eclectic radio

GMT 01:00 2015 Sunday ,05 April

Barzani congratulates Abadi on Tikrit victory

GMT 13:24 2015 Thursday ,15 October

Tesla installs 'autopilot' update

GMT 06:17 2012 Monday ,02 January

Countries across the world celebrate the New Year

GMT 04:07 2016 Tuesday ,07 June

For new era of self-driving cars

GMT 08:21 2017 Saturday ,23 December

Saudi-Sudanese Deal to Ease Transfers

GMT 11:08 2017 Thursday ,21 December

Asian markets mostly down as tax cut euphoria wanes
 
 Egypt Today Facebook,egypt today facebook  Egypt Today Twitter,egypt today twitter Egypt Today Rss,egypt today rss  Egypt Today Youtube,egypt today youtube  Egypt Today Youtube,egypt today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

egypttoday egypttoday egypttoday egypttoday
egypttoday egypttoday egypttoday
egypttoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
egypttoday, Egypttoday, Egypttoday