LONDON, Nov. 24 (Xinhua) -- The British automotive industry is estimated to witness 55.4 billion pounds (around 73.8 billion U.S. dollars) loss over the next five years if no trade deal is struck between Britain and the European Union (EU), the British Society of Motor Manufacturers and Traders (SMMT) said Tuesday.
Failure to reach a free trade agreement with the EU means that the Britain-EU trade will fall back on World Trade Organization (WTO) rules in 2021.
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