FRANKFURT -- Japan's Toyota Motor and Nissan Motor are demanding that the British government cover additional tariffs that could arise if the country cannot conclude a free-trade agreement with the European Union, Nikkei learned on Monday.
The U.K., which left the EU in late January, is in a transition period that allows the country to enjoy until the end of this year zero tariffs the same as when it was a member of the EU. If the two parties cannot agree on a deal and the transition period ends on Dec. 31 without one, tariffs on passenger cars will jump to 10% from Jan. 1, 2021.
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