Read on Twitter
"Japan agrees to slash punishing import taxes on British bacon as part of an imminent trade deal with the UK"
Trust the Sun to get the wrong end of the stick.
Looks like we're trading no tariffs on pork (tiny market) for no tariff on cars (huge market). https://www.thesun.co.uk/news/12313190/japan-slash-import-tax-uk-bacon-trade-deal/
Trust the Sun to get the wrong end of the stick.
Looks like we're trading no tariffs on pork (tiny market) for no tariff on cars (huge market). https://www.thesun.co.uk/news/12313190/japan-slash-import-tax-uk-bacon-trade-deal/
Japan's trade deal with the EU will slash tariffs on cars made in Japan to 0% by 2027.
But it sounds like the UK is going to accept a faster timetable.
So that will make Japanese-made cars significantly cheaper, meaning they don't need to be built in the UK any more.
But it sounds like the UK is going to accept a faster timetable.
So that will make Japanese-made cars significantly cheaper, meaning they don't need to be built in the UK any more.
So we're potentially trading a big chunk of an ÂŁ82 billion industry employing almost 200,000 people for a bit of pork.
Worst deal in the history of history.
Worst deal in the history of history.
(Just to add: Japan has no tariffs on cars already, so any mention of reducing or eliminating tariffs on cars automatically refers to *UK* tariffs.)
Oh, and we were warned. Explicitly. Before Brexit.
So if we had been any more attentive than Iain Duncan Smith, we would have known this was coming... https://www.forexlive.com/news/!/brexit-japan-wants-an-removal-of-autotariffs-in-trade-deal-with-the-uk-20191215
So if we had been any more attentive than Iain Duncan Smith, we would have known this was coming... https://www.forexlive.com/news/!/brexit-japan-wants-an-removal-of-autotariffs-in-trade-deal-with-the-uk-20191215
