Tariffs on electric vehicles (EVs) due to come into effect next year will be avoided after the UK and EU agreed to extend trade rules.
Prime Minister Rishi Sunak announced the news today, saying existing regulations will now run until the end of 2026. Rules of origin requirements, which state that an EV must include a minimum level of EU or UK manufactured content, were due to take effect from January 1, 2024. Under the proposed rules, tariffs of 10%…
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