Potential Trade Barriers: UK's Concerns Over EU's 'Made in Europe' Plan

British minister Nick Thomas-Symonds warned of potential trade barriers due to the EU's 'Made in Europe' plan, which could impact supply chains between the UK and the EU. The plan aims to require a minimum share of products in strategic sectors to be manufactured within Europe, potentially affecting UK-EU industries.

On Thursday, Britain's minister for EU relations, Nick Thomas-Symonds, expressed concerns that the European Union's 'Made in Europe' initiative might adversely affect the deeply integrated supply chains between the UK and some EU member countries. This warning comes ahead of an impending EU law set to emphasize local manufacturing.

The EU Commission is poised to introduce legislation requiring a minimum share of products financed by public funding in strategic sectors to be produced within Europe. Thomas-Symonds highlighted that strict preference requirements might lead to unnecessary trade barriers, impacting key UK-EU industries, and driving up costs.

Reiterating the UK and EU's shared objectives of boosting competitiveness and productivity, Thomas-Symonds emphasized Britain's significant investment in Spain and stressed that economic cooperation is crucial. Continued efforts under Prime Minister Keir Starmer seek to strengthen the UK's diplomatic and economic ties with the EU, amid plans for further alignment with the EU's single market.

(With inputs from agencies.)