Connect with us

Hi, what are you looking for?

Finance

Please, no no-deal Brexit, says Japanese foreign minister

A no-deal Brexit would have a “very negative impact” on Japanese companies in the U.K., warned Japan..

A no-deal Brexit would have a “very negative impact” on Japanese companies in the U.K., warned Japanese Foreign Minister Tarō Kōno Thursday on the BBCs Today program.

“We are very concerned with this no-deal Brexit,” he said, adding that “anything could happen,” including a drop in foreign investment. There are over 1000 Japanese companies operating in the U.K. employing around 160,000 workers. His message to his U.K counterparts has been consistent, he said: “Please, no no-deal Brexit.”

For Japanese auto-manufacturers based in the U.K., sourcing parts from continental Europe is currently a smooth process, he said. But this could change “if they have to go through customs inspections physically.”

The foreign minister also dismissed the idea that a free trade deal could be negotiated between Japan and the U.K. by October 31. “Theres going to be someRead More – Source