July 20, 2024 – According to recent reports from British media, the UK’s Business and Trade Secretary, Jonathan Reynolds, has stated that the country will not follow the European Union’s lead in imposing high tariffs on electric vehicles imported from China.
Reynolds, who is the newly appointed Labour minister, revealed that he had discussed the EU’s decision to levy tariffs on Chinese electric vehicles during the G7 trade ministers’ meeting. While expressing concerns, he emphasized that the UK does not intend to immediately launch an investigation into Chinese electric vehicles.
It is reported that the British automotive industry has not formally requested the UK Trade Remedies Authority to conduct a countervailing investigation into Chinese electric vehicles. Meanwhile, the media has pointed out that the opportunities brought by Chinese electric vehicles outweigh any potential threats.
Statistics show that in 2023, the UK exported approximately 700,000 vehicles, with 7% sold to China and 60% exported to the EU, including models such as Nissan, Jaguar Land Rover, and MINI. The domestic electric vehicle market in the UK is primarily dominated by Tesla, BMW, and SAIC MG.
It’s worth mentioning that recently, the 27 member states of the EU failed to reach a consensus on whether to support the imposition of additional tariffs on Chinese electric vehicles. According to informed sources, 12 EU member states supported the imposition of additional tariffs, while only 4 countries opposed it, and 11 member states abstained.
Among them, France and Italy voted in favor, Hungary voted against it, while Germany and Sweden abstained. It’s important to note that abstaining actually implies support for the European Commission’s decision to impose high tariffs.
