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According to finding by the German Economic Institute (IW), a hard-Brexit scenario could mean more than €3 billion in tariffs per year for companies in Germany.  

Key highlights:

   “¢   A hard-Brexit scenario would hurt German automakers, which may be subject to 60% of those tariffs.
   “¢   Believes German companies would in long-term response to a hard-Brexit scenario with elevated prices and shifts of their trade routes.