German carmakers resigned to post-Brexit tariffs, say auto execs

Frankfurt

GERMANY'S auto industry is losing hope that trade tariffs with Britain can be avoided, several executives have told Reuters, despite warnings from British Prime Minister Theresa May that an overly tough stance on post-Brexit commerce would seriously harm the country's EU partners.

"Merkel may force us to walk away from UK profits for the sake of preventing further EU fragmentation," said a senior executive at a German luxury carmaker.