Why the EU now plans to delay post-Brexit tariffs on electric vehicles

News Snapshot:

The European Commission is likely to propose a three-year delay on post-Brexit tariffs on electric cars, after months of lobbying by industry and the UK government. Carmakers were fearful that exports between the UK and EU – in both directions – would be hit by 10% tariffs in the new year because of “rules of origin” aiming to reduce China’s dominance of the global battery industry. A delay to the tariffs, if confirmed, would remove one dark cloud hanging over European carmakers. An official announcement is possible as soon Wednesday, pending approval by the European Commission’s cabinet. The tariffs were...