15,040.25 TRY BIST 100 BIST 100
53.23 EUR EUR EUR
45.27 USD USD USD
6.69 CNY CNY CNY
0.13 CNY CNY/EUR CNY/EUR
40.70 TRY Interest Interest
101.23 USD Fossil Oil Fossil Oil
6.27 USD Copper Copper
117.30 USD Silver Silver
110.36 USD Iron Ore Iron Ore
378.00 USD Shipbreaking Scrap Shipbreaking Scrap
6,889.93 TRY Gold (gr) Gold (gr)
111.00 USD Iron Ore 61% Fe Iron Ore 61% Fe

British automotive sector concerned about the EU’s “Made in EU” draft

The umbrella organization of the UK automotive sector, the Society of Motor Manufacturers and Traders (SMMT), has expressed serious concerns regarding the European Union’s (EU) “Made in EU” draft. SMMT Chief Executive Mike Hawes stated that the proposal could harm trade relations between the UK and the EU.

British automotive sector concerned about the EU’s “Made in EU” draft

Hawes, in his statement following the release of the details of the European Commission’s Industrial Acceleration Act proposal, known as the “Made in EU” draft, said that the proposal would discriminate against vehicles and parts produced in the UK and could harm trade relations worth approximately £70 billion annually.

Hawes emphasized that the UK and the EU are each other’s largest customers and suppliers, stating: “The strict assembly rules and EU27 conformity criteria proposed by the EU will systematically place UK manufacturers at a competitive disadvantage. This situation could also be contrary to the spirit of the EU-UK Trade and Cooperation Agreement.”

Hawes stressed the need for the UK government and European counterparts to urgently resolve the issue, highlighting the importance of the sector obtaining full and reliable partner status. He noted that this is necessary not only to provide consumers in the UK and Europe with options, particularly in zero-emission vehicles, but also to ensure economic growth and security.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

Trump gives the EU deadline for a trade agreement

Friday, May 8, 2026

thyssenkrupp Steel appoints Georgios Giovanakis to the Management Board as CSO

Friday, May 8, 2026

Tenaris appoints Gabriel Podskubka as CEO

Friday, May 8, 2026

Ezz Flat Steel signs agreement with Danieli for QSP modernization in Ain Sokhna

Friday, May 8, 2026

U.S. steel import permit applications increased by 8.1% in April

Friday, May 8, 2026
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now