British minister optimistic over deal on car parts with EU

British business and trade minister Kemi Badenoch said on Tuesday she was optimistic a deal with the European Union on the rules of origin of car parts could be struck, adding that failure to get a deal would be bad for automakers on both sides.

"I'm optimistic that we will get it but if not, we will need to do something else in order to make sure that we don't make decisions that are unhelpful to both sides," Badenoch told lawmakers when asked about the rules of origin negotiations.

"This will be bad. This is not a UK specific problem. It will be much worse for EU manufacturers.... these rules were made at a time when supply chains were different. If we keep them in place, we will be punishing manufacturers on both sides."

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