The British government is considering imposing tariffs on electric vehicles imported from China, amid concerns that Chinese manufacturers are benefiting from state subsidies and are offering competitively priced cars on the British market.
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British Business Secretary Jonathan Reynolds is preparing a possible package of tariff measures for electric vehicles manufactured in China, The Times reported. However, the government has clarified that no decision has yet been made on applying the tariffs.
“We continue to work closely with the industry to ensure that our approach reflects the national interests of the sector and of the United Kingdom,” a government spokesperson told Reuters.
British ministers are also considering a scheme similar to the 45% tariff that the European Union has imposed on Chinese electric cars. According to The Times, the measure would aim to protect domestic industry from the impact of the EU’s new trade policies.
Another concern for London is the “Made in Europe” policy, which seeks to reduce the European industry’s dependence on Chinese components and favor goods produced in Europe. In Britain, there are fears that this approach could leave British companies out of some European supply chains.
British Finance Minister John Healy has called on the European Union not to exclude the United Kingdom from these schemes. At a meeting of EU finance ministers in Dublin, he called for stronger cooperation with Britain in the technology, defense and manufacturing sectors.
Treasury sources cited by the BBC said that Healy wants the “Made in Europe” program to be designed to deepen ties with the United Kingdom rather than create new trade barriers.
The “Made in Europe” policy, officially known as the Industrial Acceleration Act (IAA), is still being considered by the EU. It aims to protect European manufacturing by limiting access for goods from third countries.
British carmakers have meanwhile warned that a greater separation between the British and European markets could have significant consequences. Nissan, the Japanese manufacturer, has said that production in Britain and the EU is “deeply interconnected.” According to the company, limiting public support exclusively to assembly in the EU would undermine competitiveness and disrupt supply chains.
The debate is taking place as Britain seeks to rebuild its economic relationship with the European Union after Brexit, while retaining the right to independently determine its trade policy.
