German carmakers export around £50 billion worth of new cars into the UK each year. If the UK exits the EU on 31st October 2019, then those exporters will face tariffs of around 2.5% on their vehicles. That will be devastating in their number one market, but, if their number two market, the USA, follows through with their threat to impose 25% tariffs on German cars, that could, literally, be the end for them. We’re talking thousands of jobs here. We’re also talking a shock which no Government could survive if they did nothing to mitigate the losses. But, that is exactly what will happen say the Remainers. Nothing will be done to eradicate tariffs. The German carmakers will not lobby the German Government and the German Government will not lobby the EU to get a quick “interim agreement” in place, to eliminate tariffs and smooth trade. They would be perfectly happy with huge losses to their profits, large numbers of skilled workers laid off and a possible win by the more “populist” political parties.Continue reading

German automakers selling £50,000,000,000 of cars a year to their number one market, the UK, would be perfectly happy to lose up to £20,000,000,000 a year in the event of no deal. Also, what about Irish farmers? They stand to lose £BILLIONS once tariffs of up to 55% are imposed on their beef, and other agri food products. According to Liam Fox, the Trade Secretary in Theresa May’s Liberal/Remain Cabinet the EU would never contemplate an “interim deal” under Article XXIV (GATT) to save crippling tariffs on EU imports into the UK. Article XXIV?Absolute “bullshit”! cry the EU, Manufacturing companies would rather go to the wall than see a quick trade deal with the UK. Governments may fall, but who cares? The EU will show the UK who is boss.Continue reading