According to a report, Japanese automaker Toyota Motor Corp and Nissan Motor Co Ltd will ask for a replacement for money from Britain if the government fails to agree to an EU trade agreement.
In addition, the two companies are alleged to be subject to an additional 10% EU tax on vehicle imports from Britain and demand that the government pay the additional funding.
British Prime Minister Boris Johnson has revealed that he does not want the Brexit transition period to end without a new trade agreement.
However, officials representing Nissan and Toyota did not want to comment on the issue.
In addition, a report states that Britain’s withdrawal from the European Union left a huge impact on most companies around the world including Japan.
For all you know, Toyota operates a factory in Derbyshire, England, and produces about 8% of the 1.52 million cars made in Britain in 2018. In addition, they also produce engines at a factory in Wales.
Meanwhile, Nissan has a manufacturing plant in Sunderland, northern England, which employs 7,000 people. However, it will not be able to last long if Britain leaves the EU without a trade agreement.
