LONDON: British Prime Minister Rishi Sunak on Thursday hailed a deal with the European Union to delay post-Brexit tariffs on electric vehicle sales that were due to kick in from January.
Thank you for reading this post, don't forget to subscribe!It comes after the European Commission agreed earlier this month that it would back a one-off postponement until the end of 2026 of the planned 10 per cent tariffs, in a major reversal of its previous position.
The U-turn, which came after the UK and EU automotive industries raised cost concerns, paved the way for Thursday’s announcement of the agreement. It will see so-called “rules of origin” rules and resulting tariffs phased-in more gradually.
“We have been listening to concerns of the sector throughout this process, and I know this breakthrough will come as a huge relief to the industry,” Sunak said in a statement.
