#Forex Haberleri

US makes move against customs duties: Support for electric vehicle producers from England

In order to alleviate the increasing pressures in the automotive sector due to the new customs tariffs of the US, England has decided to relax its rules regarding manufacturers transitioning to the production of electric vehicles. According to the statement from the Prime Minister’s Office and the Ministry of Transport in England, the new measures of the government towards the automotive sector include reducing fines for car manufacturers who do not comply with electric vehicle sales targets, and exempting micro-volume producers mainly producing luxury vehicles from these fines. There will be no change in the “phased exit” date planned until 2030 for new gasoline and diesel cars, but under the new measures, the sale of full hybrid vehicles will be allowed until 2035. Prime Minister of England, Keir Starmer, stated in a message on his social media account that they have announced significant changes to support British businesses, providing manufacturers with the stability and support they need. Minister of Transport Heidi Alexander also mentioned that the US customs tariffs have expedited the ongoing consultation process of the government regarding electric vehicle regulations. US President Donald Trump announced on March 27 that a 25% customs duty would be applied to all automobiles not produced in the US. While most of England’s automobile exports to the US cover luxury car models, approximately $10 billion worth of automobile exports were made to the US last year.

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