Toyota, Nissan to seek reimbursement from London in case of 'no deal' with EU, Nikkei reports – Investing.com

© Reuters. TOYOTA, NISSAN TO REQUEST REFUND IN LONDON FOR 'NO DEAL' WITH EU, NIKKEI REPORTS

TOKYO (Reuters) – Japanese carmakers Toyota (T 🙂 Motor and Nissan (T 🙂 Motor will seek a refund from Britain in the event the UK government fails to agree on a post trade deal -Brexit with Europe, the financial newspaper reported on Monday.

Auto manufacturers are preparing for an additional 10% EU tax on auto imports from Britain and are asking the government to pay these customs fees, the Japanese daily said, without citing sources.

British Prime Minister Boris Johnson said on Sunday that he was not particularly keen for the transition period to end without a trade deal being reached but that Britain could live with such an outcome.

Neither Nissan nor Toyota wished to immediately comment on this information.

The Nikkei article points out that the divorce between Britain and the European Union has implications for businesses around the world, including Japan, the world's third largest economy.

The Toyota Group operates a plant in Derbyshire, central England, and produced around 8% of the 1.52 million cars made in Britain in 2018. It also produces engines at a plant in Wales .

Nissan has a plant in Sunderland, in the north of England, which employs 7,000 people. If Britain were to leave the EU without an agreement on their trade relationship, it would be "unsustainable," Nissan said in June.

(Ritsuko Ando and Maki Shiraki, French version Laetitia Volga, edited by Blandine Hénault)

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