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Tuesday, 5 June 2018

British car industry under threat

Image result for car manufacturers

The UK’s car component industry faces an uncertain future as European businesses are advised to avoid using British parts for export goods ahead of Brexit.

The Dutch government has issued advice to all businesses in The Netherlands, Sky News reported, warning exporters they may lose free trade access under existing deals “if a large part of your product consists of parts from the UK”. 

According to Sky, the advice read: “Brexit will have consequences for exports outside the EU. 

British car industry under threat. 

“After Brexit, parts made in the UK no longer count towards this minimum production in the European Union.”

This refers to “rules of origin” and “local content” under international trade rules. 

To qualify for EU free trade deals, normally at least 55 per cent of a product’s parts must come from an EU country. 

“The hard Brexiteers have built a bomb under the UK automotive industry and the EU have lit it.” Post Brexit UK-built parts will “no longer count towards EU origin”, according to the Dutch government.



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