The Philippines and South Korea have agreed to phase out import duties of up to 30 percent on Korean automotive parts over the next five years, as well as taxes on electric and hybrid vehicles. This move is expected to boost exports of cars and auto parts from South Korea to the Philippines, allowing it to compete with other major automotive players such as Japan, the United States, and China. The free trade agreement (FTA) between the two countries also covers sectors including tropical fruits, minerals processing, and electric vehicle manufacturing, while safeguarding certain sensitive Philippine industries such as beverages, batteries, sugar, and agricultural goods. Bilateral trade between the Philippines and South Korea reached $12 billion in 2023.
https://www.manilatimes.net/2025/01/06/business/top-business/cheaper-korean-cars-parts-seen/2030570The European Union is facing a difficult decision regarding trade and tariffs. The EU's carmakers are struggling due to a flood of cheap new electric vehicles (EVs) entering the market from other countries. This has raised concerns about the potential for a drop-off in demand for UK-made cars as consumers opt for cheaper alternatives. A study warns that disparities in EV charging provision could exacerbate this issue, particularly in the UK.
https://www.businesstelegraph.co.uk/weirdest-cars-from-the-2010s-revealed-from-axed-ugly-squashed-mini-to-ev-dubbed-plastic-box-on-wheels/