Market News
UK in talks over US car tariffs, could look at Tesla subsidies, finance minister says - REUTERS
By Catarina Demony and Kate Holton
Summary
- U.S. is second-biggest importer of UK cars
- UK trying to carve out tariff exemption
- Could look at subsidies given to Tesla
LONDON, March 27 (Reuters) - Britain is working intensely with Washington to secure an exemption from U.S. autos tariffs and could review subsidies enjoyed by Elon Musk's Tesla to better support its industry, finance minister Rachel Reeves said on Thursday.
Reeves said Britain should be given a carve-out from any global tariffs because the two countries report trade surpluses with each other due to measurement differences, after U.S. President Donald Trump unveiled his latest move - a 25% tariff on imported vehicles.