Honda cannot afford the 10 percent export tariff that would be imposed on its British-built cars if Britain had to return to World Trade Organization rules after Brexit, it said on Thursday. The warning is the latest from a car industry worried Britain might lose access to the European Union's single market and customs union when it leaves the bloc in 2019.
The auto industry has been a rare manufacturing success story for Britain, with production reaching a 17-year high in 2016. But with Brexit talks at an impasse, several of its mostly foreign-owned manufacturers have warned they might have to move work elsewhere if favorable trading terms are not maintained.
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