When Ferrari pledged to make its first fully electric vehicle this year, it was a bet on the future. But in Beijing, the reaction was swift: a backlash that signals a deepening trade war risk. The Chinese government, which had previously welcomed luxury imports, is now threatening tariffs on European EVs.
For Britain’s car industry, already reeling from Brexit and supply chain chaos, this is a grim warning. The domino effect is real. Jaguar Land Rover, which exports a fifth of its cars to China, could see prices spike.
Smaller firms like Morgan Motor Company fear they will be priced out. Meanwhile, workers in the Midlands ask: how will this affect our jobs? The reality is that the price of bread and the security of a factory floor wage are now directly linked to diplomatic spats in Beijing.
Unions are calling for the government to step in, but as of today, Downing Street has only offered soothing words. The worry is that this is not just a Ferrari problem. It is a crisis for the real economy of the UK.
