About This Source - Bloomberg QuickTake: Now
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Recent from Bloomberg QuickTake: Now:
Bloomberg Quicktake: Now published this video item, entitled “Brexit: Companies Stockpiling Leads to Lorry Traffic Jam in Calais, France” – below is their description.
(AP) There were long lines of Britain-bound lorries near Calais Wednesday, as British companies stockpiled goods ahead of the U.K.’s departure from the European Union.
Just three weeks remain, and it isn’t clear if there will be a post-Brexit trade deal or a chaotic economic rupture between the U.K. and the 27-member bloc.
Sebastien Rivera, who represents 350 companies that send their goods to the U.K., as secretary-general of France’s National Federation of Road Transport, called the situation “catastrophic.”
“It’s not right that we’re three weeks away and we don’t have answers,” he said.
He said British companies were stockpiling goods in anticipation of new administrative formalities that Brexit may bring.
The costs of waiting in line were already adding up, Rivera said.
“Right now, it takes easily three or four more hours to cross the English Channel. So it is easily (an additional) 240 euros ($290) or 300 euros ($360) of financial costs.”
Also Wednesday, British Prime Minister Boris Johnson and European Commission President Ursula von der Leyen were getting set for a working dinner.
They have just a few hours over a multi-course meal to unstick negotiations that are deadlocked on key aspects of the future relationship for the EU and Britain for months.Bloomberg Quicktake: Now YouTube Channel
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