The UK has decided to maintain the status quo and is not currently prepared to follow the EU in imposing taxes on Chinese electric vehicles

News on July 20: Recently, British Business and Trade Secretary Jonathan Reynolds made it clear at the Group of Seven (G7) trade ministers meeting in Italy that the UK currently has no plans to follow the EU and impose levies on electric vehicles imported from China. High tariffs. Reynolds discussed with European colleagues at the meeting the EU's decision to impose tariffs on Chinese electric vehicles in response to what the EU considers to be China's unfair subsidies to the electric vehicle industry. However, although Reynolds expressed some concerns about this, he emphasized that the UK does not intend to immediately launch a formal investigation into the import of Chinese electric vehicles.

1. According to the editor’s understanding, Reynolds’s statement has received widespread attention in the industry. An insider revealed, “The minister has made it clear that he will take necessary measures to protect the British automotive industry.” But at the same time, the person also pointed out that Reynolds has not yet reached the stage of ordering an investigation.

2. At present, the British automotive industry has not formally submitted a request to the British Trade Remedies Office for countervailing investigations into Chinese electric vehicles. This is an important step before launching relevant investigations. At the same time, the Financial Times also expressed its view that Chinese electric vehicles bring more opportunities than threats to the British market.

3. According to the latest data from the Association of British Motor Manufacturers and Traders, British car exports in 2023 will be about 700,000 vehicles, of which only 7% will be sold to China, while up to 60% of the cars will be exported to the EU , including well-known brands such as Nissan, Jaguar Land Rover and MINI. The UK domestic electric vehicle market is currently led by brands such as Tesla, BMW and SAIC MG. -->

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