Mexican Media Brands
Report: EU May Delay Brexit until 2021
The European Union’s top officials are developing a plan that would give the U.K. another 21 months to finalize its plan to leave the EU, sources tell The Guardian.
#economics #labor
Share
The European Union’s top officials are developing a plan that would give the U.K. another 21 months to finalize its plan to leave the EU, sources tell The Guardian.
The scheme would replace the 21-month transition period that would begin immediately after the U.K.’s scheduled exit from the EU on March 29. Proponents say the maneuver would avoid the highly disruptive effect of a “hard” Brexit with no replacement European trade pacts.
The EU is eager to avoid a short postponement, which could lead to another round of upheaval this summer if Parliament still needs more time to agree on a solution. Both markets seek to avoid new tariffs that would raise prices and hurt trade.
But whether an extension into 2021 would bolster Britain’s auto industry isn’t clear. Pessimists, pointing to decisions earlier this month by Honda and Nissan to reassign future product programs to plants outside the U.K., suggest automakers have given up on hopes for a smooth Brexit and are making business decisions accordingly.
RELATED CONTENT
-
Inside Ford
On this edition of “Autoline After Hours” Joann Muller, Detroit bureau chief for Forbes, provides insights into what she’s learned about Ford, insights that are amplified on the show by our other panelists, Stephanie Brinley, principal analyst at IHS Markit who specializes in the auto industry, and Todd Lassa, Detroit Bureau Chief for Automobile.
-
Porsche Doubles EV Target for 2025
Porsche AG says about half the vehicles it sells by 2025 will be equipped with hybrid or all-electric powertrains, twice the ratio it forecast four weeks ago.
-
Enterprise Edges into Self-Driving Car Market
U.S. rental car giant Enterprise Holdings Inc. is the latest company to venture into the world of self-driving vehicles.