Brexit: The Story on Tariffs and Currency Fluctuations

The NYT decided to tout the risks that higher tariffs could cause serious damage to industry in the UK following Brexit:

For Mr. Magal [the CEO of an engineering company that makes parts for the car industry], the threat of trade tariffs is forcing him to rethink the structure of his business. The company assembles thermostatic control units for car manufacturers, including Jaguar Land Rover in Britain and Daimler in Germany.

"Tariffs could add anything up to 10 percent to the price of some of...