https://www.taxtmi.com/news?id=50457 The pact creates a phased, quota based market access regime for passenger vehicle CBUs, granting UK exporters access mainly for large engine ICE vehicles and high priced EVs while excluding electric, hybrid, and hydrogen vehicles from concessions for the first five years and denying market access to mass market EVs below the specified price threshold. Tariffs are reduced within quotas over a multiyear period with a separate slower out of quota duty reduction, and a volume control mechanism adjusts ICE allocations by EV concessions from the sixth year to maintain a capped total quota. en-us Thu, 24 Jul 2025 20:01:05 +0530 Thu, 24 Jul 2025 20:01:05 +0530 TaxTMI RSS Generator https://www.taxtmi.com/news?id=50457 The pact creates a phased, quota based market access regime for passenger vehicle CBUs, granting UK exporters access mainly for large engine ICE vehicles and high priced EVs while excluding electric, hybrid, and hydrogen vehicles from concessions for the first five years and denying market access to mass market EVs below the specified price threshold. Tariffs are reduced within quotas over a multiyear period with a separate slower out of quota duty reduction, and a volume control mechanism adjusts ICE allocations by EV concessions from the sixth year to maintain a capped total quota. News - Thu, 24 Jul 2025 20:01:05 +0530 https://www.taxtmi.com/news?id=50457