UK expected to follow EU with tariffs on Chinese EVs, Times says
EU officials are said to be concerned the UK may become a backdoor for Chinese exports into Europe
The UK is reportedly considering imposing tariffs on Chinese electric vehicles, according to a report by The Times of London. This move comes in response to concerns from the European Union about the UK potentially becoming a backdoor for Chinese exports into Europe. EU officials have emphasized that the UK may be excluded from the "Made in Europe" scheme if it fails to address the tariffs on Chinese EVs, The Times reported.
British Business Minister Jonathan Reynolds is reportedly drafting a package of potential tariffs to counter Beijing's alleged practice of "dumping" state-subsidized vehicles into the UK market. The aim is to match the EU's 45% levy on Chinese electric cars to prevent the negative impact of being excluded from the Made in Europe mechanism.
UK officials are wary of potential Chinese retaliation against British automakers like Jaguar Land Rover, but believe the economic repercussions of losing access to the Made in Europe scheme would be far more damaging.
Written by urgent.news from The Business Times - Companies & Markets's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
