Customs checks that delay parts could affect earnings more than tariffs – Moody’s
A no-deal Brexit would cost Japanese carmakers in Britain more than $1bn a year if 10% tariffs were imposed on trade between the UK and EU, new analysis suggests.
Nissan, Toyota and Honda together account for almost half of UK car production but trade under World Trade Organization terms could cost the companies $1.17bn (£899m) in operating profit, according to calculations published on Monday by Moody’s Investors Service, an influential ratings agency.