His comments came after the chief executive of Airbus, Tom Enders blasted the government's handling of the Brexit talks. "But we still have no idea what is really going on here".
Ford may face a disbursement of up to $1 billion, comprises of an impact of weaker pound and World Trade Organization tariffs, if Britain is to leave European Union without a decipherable deal, a company spokesman revealed on Thursday, the 24th of January, 2019, who wished not to be identified.
The aviation giant's relationship with the European Union has itself been under scrutiny recently, with the World Trade Organization previous year ruling the firm received improper subsidies from the bloc after the USA argued it had given $22 billion in state aid to help launch the A380 and A350 jets.
"Of course, it is not possible to pick up and move our large United Kingdom factories to other parts of the world immediately", Enders acknowledged.
The future of the border between EU-member Ireland and Northern Ireland, which will be the United Kingdom's only land frontier with the bloc after its departure, is proving the major hurdle in the ratification of the Brexit divorce deal in London.Police on both sides of the now seamless stretch have warned that customs posts could be a target for the small number of militant groups still active in Northern Ireland after a 1998 peace deal ended three decades of violence in the province. They include delaying Britain's March 29 exit.
"Please don't listen to the Brexiteers' madness which asserts that, because we have huge plants here, we will not move and we will always be here", Enders said. "And make no mistake there are plenty of countries out there who would love to build the wings for Airbus aircraft".
He acknowledged that the European planemaker could not simply pick up and move immediately, but threatened to "redirect future investments in the event of a no-deal Brexit", saying that aerospace is a long-term business and Airbus is "not dependent on the U.K." for its future.
The decline from previous session high which saw pair test price level near 1.31 handle is owing to profit booking activity post-140-pip rally and consolidative price action as investors have turned cautious ahead of today's US Senate meeting, where members are expected to vote on re-opening the government.
Trade Secretary Liam Fox has announced Britain has secured a first Brexit trade deal, saying an agreement with Israel was finalized "in principle".