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EU and UK work to avert a 10% EV tariff cliff edge in 2027

POLITICO reports EVs that fail tighter local-content rules under the Brexit trade deal would face a 10% duty.

1 Source, 20d ago, first seen 20d ago

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TLDR

POLITICO reports the European Commission and U.K. are trying to avoid a 10% duty on electric vehicles that fail tighter local-content rules from 2027. A U.K. readout shared with POLITICO said EU Trade Commissioner Maroš Šefčovič and U.K. Trade Secretary Jonathan Reynolds made progress in talks. The automotive lobby SMMT estimates the duties would threaten £16.4 billion in cross-Channel EV trade.

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1 Source, first seen 20d ago