The United Kingdom (UK) and the European Union (EU) are inching closer to a deal that would delay the introduction of post-Brexit tariffs on electric vehicles (EVs). Sources close to the negotiations revealed that the EU has submitted proposals to the UK government, suggesting a two-year extension on the gradual implementation of tariffs for electric vehicles traded between the two entities.
Under current arrangements after the UK leaves the EU, electric vehicles traded between the UK and EU from next year would face a 10% tariff if less than 45% of their value comes from the region. This tariff has raised concerns among European carmakers, who argue that this would cost the industry 4.3 billion euros and give an advantage in the market to Chinese competitors.
Discussions between the UK and EU are ongoing, with one option being considered involving a delay in imposing tariffs for around two years. However, a final decision has not yet been made and talks could continue for an extended period.
The proposed deal to delay tariffs on electric vehicles demonstrates ongoing negotiations between the UK and EU to find mutually beneficial solutions post-Brexit. It also recognizes the importance of the electric vehicle market for both parties and the possible negative impact of imposing tariffs on this sector.
By delaying the introduction of tariffs, the UK and EU aim to give car manufacturers more time to adapt to new trade agreements and ensure continued growth of the electric vehicle market. This agreement could also mitigate potential supply chain disruptions and maintain a level playing field for European and UK car producers.
Ultimately, the negotiations between the UK and the EU reflect the importance of cooperation and collaboration in the post-Brexit era. As discussions continue, both sides are working towards an agreement that takes into account the interests of the automotive industry and supports the development of the electric vehicle market.
Definitions:
– Tariffs: Taxes or duties imposed on imported or exported goods.
– Electric Vehicles (EVs): Vehicles that are powered by electric motors instead of internal combustion engines.
Fuentes:
– Bloomberg
Post navigation
2023-10-17 03:11:55
#United #Kingdom #European #Union #agree #delay #tariffs #electric #vehicles
