Global

George Soros funds reversal of Brexit vote

George Soros funds reversal of Brexit vote

Britain and Japan have established deep rooted trade ties spanning a breadth of business sectors, from the automotive industry and machinery, to pharmaceuticals and retail.

After meeting Prime Minister Theresa May with a delegation of top Japanese executives, Japan's ambassador to the U.K., Koji Tsuruoka, was asked about the threat of new obstacles to trade between Britain and the European Union, the country's biggest export market.

Japanese firms have spent more than 40 billion pounds ($56 billion) in Britain, encouraged by successive governments since Margaret Thatcher promising them a business-friendly base from which to trade across the continent.

"We've been clear about the sort of deal that we want to secure and that we want trade which is as frictionless as possible", her spokesman told reporters. "This is all high stakes that all of us, I think, need to keep in mind".

Britain intends to seek free trade deals with its major trading partners once it leaves the European Union next year.

Nissan sought assurances over post-Brexit arrangements ahead of future investment in the Sunderland plant, Britain's biggest vehicle factory.

"Uncertainty is a major concern for an economy", it said.

Last year, Soros suggested the United Kingdom may never leave the European Union if the bloc reforms itself while Brexit negotiations are taking place.

Brexit minister David Davis said there was still progress to be made in the committee, after disagreements between ministers erupted into the public domain.

Carmakers Nissan, Toyota and Honda were due to attend the talks, along with representatives from banks and drug companies.

Nissan, Toyota and Honda began their United Kingdom operations in Britain in the 1980s and now build almost half of all of Britain's 1.67 million cars.