PSA chief warns that hard Brexit could bring about new tariff barriers
175 views · Published 7 October 2018 · 2:36 · Indexed 28 September 2026
Channel: AP Archive · 2018 · News & Politics
(2 Oct 2018) The head of Europe's second largest automaker behind the takeover of Opel and Vauxhall brands warned on Tuesday against the new tariff barriers a hard Brexit could bring about. Speaking at the Paris Motor Show, PSA CEO Carlos Tavares said Britain's exit from the European Union could have "major impact on jobs and on manufacturing activity in the UK." "We expect politicians to find an agreement that protects free trade," Tavares said. The PSA group took Vauxhall over from General Motors last year but in a context of uncertainty, the new French owner has said it was reticent to invest massively in factories in the UK. Brexit threatens to undermine auto production in Europe by slowing shipments of parts between the EU and Britain. Modern auto plants operate on a strict time schedule, sending parts just in time to be put together when manufacturing an engine or chassis. Even small border delays could wreak havoc at plants on both sides of the English Channel. Tavares also said he would closely monitor the outcome of a highly-anticipated vote at the European Parliament on October 3rd to impose tougher CO2 emission targets for 2030. The parliament's Environmental Committee backed a 45 percent cut in CO2 emissions compared to 2021 levels. "Forty-five percent is too much and it's a breaking point – it's beyond the breaking point. This is very clear. The ACEA position is that we should focus on minus 20 percent," Tavares said. Find out more about AP Archive: http://www.aparchive.com/HowWeWork Twitter: https://twitter.com/AP_Archive Facebook: https://www.facebook.com/APArchives Instagram: https://www.instagram.com/APNews/ You can license this story through AP Archive: http://www.aparchive.com/metadata/youtube/c1808baf027bbe42750a75407b8b740f
