"UK Electric Vehicle Makers Face Tariff Threat as EU Trade Talks Stall A looming trade dispute between the UK and EU is casting a shadow over Britain's burgeoning electric vehicle (EV) industry. The Society of Motor Manufacturers and Traders (SMMT) has warned that British EV manufacturers could be hit with a staggering £1.4 billion ($1.85 billion) in tariffs if a solution is not found to address local content requirements. The tariffs would be a significant blow to an industry that has been driving innovation and growth in the UK economy. As trade talks between the UK and EU continue to stall, the clock is ticking for negotiators to find a compromise and avoid a costly trade war."
The SMMT says British EV makers will have to pay £1.4 billion ($1.85 billion) in tariffs if there is no solution on local content requirements with the EU.
