Here’s something guaranteed to make you snore (as it did me):
UK and European carmakers are facing multibillion-pound costs if the European Union goes ahead with the introduction of tariffs on electric vehicles partially manufactured outside the two regions.
European carmakers are urging the EU to delay post-Brexit tariffs on the sale of electric vehicles to the United Kingdom and vice-versa over fears that the increased prices will overwhelmingly benefit China, one of the leading producers of the batteries required to run the cars. The European Union has refused to heed the request for a delay by the British Government as they try to stimulate the growth of the continents’ domestic production of electric vehicles (EVs). Experts, however, have warned that the bullying tactic has failed to excite manufacturing enough to justify sticking to the proposed tariff timeline, enacted by the post-Brexit Trade and Cooperation Agreement (TCA).
It’s all kinda confusing, especially to one of addled brain like myself, but the executive summary seems to be that governments have been interfering with markets by means of tariffs, and now it’s gone and bitten them in the ass. (Feel free to correct me if I read this wrong.)
However, as it involves
- the EU and
- electric cars…
