The UK’s beleaguered car industry is facing a new threat from changing EU rules that have been dubbed “pretty catastrophic” and “gravely concerning” if they go through as proposed.
The Industrial Accelerator Act (IAA) is the EU’s response to threats to key industries including automotive and battery making, mainly from China.
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It's a perpetuation of the EU's SOLE purpose, that of insular protectionism. Even though I am a proud Brexiteer, I don't know if I can criticise the EU for this - as this is what they do, it's their raison d'être, and why we should have nothing to do with the EU. We shouldn't buy their goods. If we put up an import ban, they would would HAVE to climb down, since we purchase far more from them than they buy from us. But no government (Labour or Tory) is brave enough to call their bluff.
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The EU's Industrial Accelerator Act could severely damage the UK's emerging electric vehicle sector.
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This threatens UK jobs and competitiveness just as the country tries to build its green automotive future.
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The UK imports more EU goods than it exports, potentially giving it leverage in trade negotiations.