Siemens UK boss: Give us clarity on how post-Brexit trade will work

Juergen Maier, CEO Siemens UK, poses for a photograph after an interview with Reuters in London, Britain, June 20, 2018. REUTERS/Toby Melville

The United Kingdom needs to urgently clarify how trade with the European Union will work after Brexit, and the world’s fifth-largest economy should remain in the customs union unless there is a proper alternative, the boss of Siemens UK said.

With only nine months left until the United Kingdom is due to leave the EU, little is yet clear about how trade will flow as Prime Minister Theresa May, who is grappling with a rebellion in her party, is still trying to strike a deal with the bloc.

“My biggest worry about Brexit is that I don’t know what we are planning for,” Juergen Maier, 54, the UK CEO of German engineering giant Siemens told Reuters in an interview.

“We need to put something in place quickly that works and if that is not possible, and until that point, then we have to just default to staying in the customs union,” Maier said.

May has ruled out staying in the EU customs union, which clubs the 28 EU members in a duty-free area where there is a common import tariff for non-EU goods.

But the nature of the future trading relationship with the world’s biggest trading bloc has split May’s government and Conservative Party.

Under the current timetable, both London and Brussels are working towards a final Brexit deal in October to give enough time to ratify it by Brexit day in March 2019.

Maier said: “We ship thousands of goods daily across the borders that help keep power stations running, that help keep trains running, that help keep British manufacturing running – are those parts going to be able to pass pretty frictionlessly over the border?”

“Or are we going to be in a situation where we have supply chains that are struggling to deliver to us and where we are struggling to export from the UK?”

The views of the Siemens boss highlight the growing sense of nervousness among business leaders about the prospect of Britain crashing out of the bloc without a deal or with a deal that would silt up the arteries of trade.

The UK is Siemens’ fourth-largest market after the United States, Germany and China. It employs 15,000 people in the UK and 56,000 UK jobs depend on it.

“If the Brexit we end up having provides significant friction, provides significant cost then of course that will be an argument against making investments here in the UK,” he said.

BREXIT TRADE

Maier, who was born in Germany and moved to the UK when he was 10, said he was not seeking to stop Brexit but wanted Britain to seek a “soft and reasonable” departure.

Around 52 percent of the UK’s total $1.1 trillion trade in goods last year was with the EU so May wants to sign a free trade agreement and negotiate an as yet relatively undefined customs arrangement to ensure as frictionless trade as possible.

The options discussed so far, though, offer nothing close to the current ease of trade, according to Maier.

“I would like to stay in the customs union until we see a workable alternative and I haven’t seen one yet,” he said.

Maier said that adding just two minutes onto every lorry’s customs procedure passing through the southern English port of Dover would produce a 14-mile tailback on either side of the Channel after one day.

Supporters of Brexit admit there may be some short-term pain for the UK’s $2.9 trillion economy but that long-term it will prosper when cut free from the EU which they cast as a failing German-dominated experiment in European integration.

Many CEOs, though, fear that a disorderly Brexit will disrupt supply chains across Europe and cripple the economy for at least a decade by deterring investment.

Maier said planning for Brexit was tough.

“The fact is – it is very difficult because we don’t know exactly what we are planning for. Contingency planning is very difficult when the options are so varied.”

“We have got contingency plans that we can implement depending on various scenarios and one of those scenarios is a no deal – but let me tell you that scenario doesn’t look very good,” he said.

So how much has all that Brexit worry cost Siemens so far?

“We haven’t put a figure on what Brexit has cost us so far. But it is relatively small to what a Brexit is likely to cost, especially in a no deal scenario.”

[reuters]

LEAVE A COMMENT

Comments (75)

Wonderful story …

Here are some unrelated data, nevertheless really really worth taking a your time to visit this website

Wonderful story …

Here are several unrelated data, nonetheless actually really worth taking a your time to visit this website

Sites we Like…

Here are some entirely unrelated websites to ours, however, you can take a second and visit the website…

Websites we think you should visit…

Sites of interest we’ve a link to…

Websites we think you should visit…

Sites of interest we have a link to…

Sites we Like…

Here are some totally unrelated websites to ours, on the other hand, you can take a second and visit the website…

Wonderful story …

Here are several unrelated information, nonetheless definitely really worth taking a your time to visit this website

Sites we Like…

Here are some totally unrelated internet websites to ours, on the other hand, i think you should take a second and visit the website…

You should check this out…

Here are some completely unrelated websites to ours, nevertheless, just take a moment to visit …

Recent Blogroll …

You may take a second to stop by the material from this sites we’ve linked to on this post…

Recent Blogroll …

You may take a second to pay a visit to the material from this web sites we have linked to on this post…

Websites we think you should visit…

Sites of interest we’ve a link to…

You should check this out…

Here are some totally unrelated web sites to ours, even so, just take a second to visit …

Sites we Like…

Here are some entirely unrelated web-sites to ours, having said that, i think you should take a second and visit the website…

You should check this out…

Here are some absolutely unrelated websites to ours, however, just take a second to visit …

Just check this …

Just take a second to stop by the web-sites we have linked to …

Websites we think you should visit…

Sites of interest we have a link to…

Wonderful story …

Here are a couple of unrelated data, nonetheless really worth taking a your time to visit this website

Read was interesting, stay in touch….

Well written!

You should check this out…

Here are some completely unrelated web-sites to ours, having said that, just take a moment to visit …

Websites we think you should visit…

Sites of interest we have a link to…

Wonderful story …

Here are a few unrelated information, nonetheless really worth taking a your time to visit this website

You should check this out…

Here are some entirely unrelated websites to ours, even so, just take a moment to visit …

You should check this out…

Here are some entirely unrelated web-sites to ours, nonetheless, just take a moment to visit …

Just check this …

Just take a second to visit the internet sites we have linked to …

Just check this …

Just take a second to go to the web pages we have linked to …

Read was interesting, stay in touch….

Well written!

Finding this site…

Wow, this paragraph is pleasant and very informative.

Recent Blogroll …

You may take a second to visit the content from this sites we have linked to on this post…

Google

Just beneath, are various totally not related web-sites to ours, nonetheless, they are surely worth going over.

Websites we think you should visit…

Sites of interest we have a link to…

Websites we think you should visit…

Sites of interest we have a link to…

You must see this website …

We came across a cool web site which you may possibly take pleasure in visiting …

Websites we think you should visit…

Sites of interest we’ve a link to…

Sites we Like…

Here are some totally unrelated web sites to ours, however, i think you should take a second and visit the website…

type 1 diabetes

[…]here are some links to internet sites that we link to mainly because we believe they may be really worth visiting[…]

ouvrir boite hotmail

[…]that will be the finish of this report. Here you will discover some web sites that we believe you’ll value, just click the hyperlinks over[…]

You should check this out…

Here are some completely unrelated sites to ours, having said that, just take a second to visit …

Websites we think you should visit…

Sites of interest we’ve a link to…

gay toys

[…]usually posts some really exciting stuff like this. If you are new to this site[…]

1Pro you move me vancouver

[…]please check out the web-sites we follow, like this 1, because it represents our picks through the web[…]

فني ستلايت مبارك الكبير

[…]we like to honor numerous other online web-sites on the internet, even though they aren’t linked to us, by linking to them. Below are some webpages worth checking out[…]

anal spray

[…]we came across a cool site which you may well appreciate. Take a look in case you want[…]

podcast

[…]Sites of interest we have a link to[…]

You must see this website …

We came across a cool internet site which you might appreciate visiting …

poker

[…]the time to read or check out the content or web pages we have linked to beneath the[…]

Dulles airport pick up & drop off

[…]just beneath, are a lot of totally not associated web pages to ours, nevertheless, they’re surely really worth going over[…]

g spot stimulation

[…]usually posts some incredibly interesting stuff like this. If you are new to this site[…]

Recent Blogroll …

You may take a second to visit the content from this sites we’ve linked to on this post…

You must see this website …

We came across a cool web page that you just might enjoy visiting …

good blow job

[…]check beneath, are some absolutely unrelated web-sites to ours, however, they’re most trustworthy sources that we use[…]

You must see this website …

We came across a cool web-site that you just may possibly take pleasure in visiting …

Websites we think you should visit…

Sites of interest we have a link to…

Make massive income

[…]always a major fan of linking to bloggers that I enjoy but don’t get quite a bit of link adore from[…]

home decor influencers

[…]usually posts some extremely fascinating stuff like this. If you’re new to this site[…]

judi maxbet

[…]here are some hyperlinks to web-sites that we link to since we assume they are worth visiting[…]

Ντετέκτιβ Θεσσαλονίκη

[…]please check out the sites we follow, which includes this one particular, because it represents our picks from the web[…]

How To Remove The Background From An Image Online Free Without PhotoShop

[…]here are some links to sites that we link to mainly because we consider they may be worth visiting[…]

Att.net Mail

[…]we like to honor several other world wide web sites on the net, even though they aren’t linked to us, by linking to them. Under are some webpages worth checking out[…]

Att.net Mail

[…]Wonderful story, reckoned we could combine a couple of unrelated information, nonetheless definitely worth taking a look, whoa did 1 master about Mid East has got extra problerms at the same time […]

hasta yatağı fiyatları

[…]always a significant fan of linking to bloggers that I like but do not get a great deal of link like from[…]

porn free

[…]the time to read or take a look at the content or sites we’ve linked to below the[…]

Sites we Like…

Here are some absolutely unrelated web sites to ours, even so, just take a second and visit the website…

Recent Blogroll …

You may take a second to go to the subject material from this web pages we have linked to on this post…

online marketing strategies

[…]just beneath, are several totally not associated sites to ours, nonetheless, they are certainly really worth going over[…]

You should check this out…

Here are some entirely unrelated web-sites to ours, having said that, just take a moment to visit …

Finding this site…

Wow, this post is nice and very informative.

seashell necklace

[…]we came across a cool website that you simply might appreciate. Take a search should you want[…]

best gay sex toys

[…]Every the moment inside a whilst we opt for blogs that we read. Listed below are the most up-to-date web-sites that we select […]

adam and eve couples sex toys

[…]although web sites we backlink to beneath are considerably not connected to ours, we really feel they’re truly really worth a go via, so have a look[…]

pocket pussy unboxing

[…]very few internet sites that occur to be comprehensive below, from our point of view are undoubtedly well really worth checking out[…]

xxx

xxx

[…]the time to read or pay a visit to the content material or internet sites we’ve linked to beneath the[…]

male toys

[…]just beneath, are quite a few completely not associated internet sites to ours, nonetheless, they are certainly really worth going over[…]

Baccarat Strategy Reddit

[…]usually posts some very fascinating stuff like this. If you’re new to this site[…]

blackjack system tester

[…]always a large fan of linking to bloggers that I appreciate but really don’t get a great deal of link appreciate from[…]

×

Comments are closed.