LONDON: British Prime Minister Rishi Sunak on Thursday hailed a deal with the European Union to delay post-Brexit tariffs on electric vehicle sales that were due to kick in from January.

       It comes after the European Commission agreed earlier this month that it would back a one-off postponement until the end of 2026 of the planned 10 per cent tariffs, in a major reversal of its previous position.

       The U-turn, which came after the UK and EU automotive industries raised cost concerns, paved the way for Thursday’s announcement of the agreement. It will see so-called “rules of origin” rules and resulting tariffs phased-in more gradually.

       “We have been listening to concerns of the sector throughout this process, and I know this breakthrough will come as a huge relief to the industry,” Sunak said in a statement.

       Published in Dawn, December 22nd, 2023