UK urged to avoid US 100% tariff on Chinese cars
15 May 2024
The Biden administration plans to raise tariffs on Chinese EV imports from 25% to 100%. The move is expected to be announced on Tuesday. The tariffs would build on the 25% tariff initiated by former president Donald Trump.
In the UK, back in 2019, 1.7% of UK EVs came from China. By 2022, this grew to 31.8%; figures for 2023 are still being finalised but will be higher still.
This is leading some to say the UK should follow suit, but experts are urging caution – not least due to the role battery giant Envision, which is spearheading Nissan’s expanded battery plant in Sunderland, may have in building JLR’s battery plant in Somerset. Lotus and LEVC are also Chinese-owned.
Consumers should be remembered too. Chinese EVs are selling so well because they are cheap. That’s why MG is on track to overtake Tesla in the UK this year for EV sales.
“Slapping tariffs on Chinese imports would simply put EVs financially out of reach of many Brits and dash our environmental targets”.
Tags:
Why Subscribe?
As an auto retail executive you need insightful and unique industry intelligence to boost your business potential. Here’s a taste of what Auto Retail Network has to offer:
- Get informed and boost your business potential
- More than 1,200 fellow executives have joined us since launch
- Independent, carefully crafted, unique content relevant to you and your business
- Develop a greater awareness of market trends and opportunities
- Access to a wide range of materials whenever, wherever and however you want it
- Significant discounts on ARN events, reports and other publications
