Brexit latest: Car industry master plan will see 94% growth in major market | City & Business | Finance

“As always, the devil will be in the detail, but the industry can seize new international opportunities if the deal reduce tariffs and other barriers to trade and enable good market access.”

He added: “The Government has backed Britain’s automotive industry, not least by securing the crucial trade deal with Europe – the Trade and Cooperation Agreement (TCA).

“To take advantage of opportunities, the provisions agreed in the TCA must be delivered in full, new trade deals secured, along with workable rules of origin to secure tariff-free trade, thereby opening up access to new growth markets.”

Globally, the car industry has been struggling since the pandemic due to a shortage of semiconductors which are vital in various areas of production from dashboard displays to emergency brake systems.

Read original article here

Denial of responsibility! Toysmatrix is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – The content will be deleted within 24 hours.

Source link

Leave a Comment

Your email address will not be published. Required fields are marked *