"My concern is that if you had very strict preference requirements, you would risk impacting our deeply integrated supply chains that would create unnecessary barriers to trade in key UK-EU industries and increase costs, Thomas-Symonds said at an economic event in Madrid."
"The move is designed to reduce dependence on foreign imports and boost local production in strategic sectors in an uncertain geopolitical environment. He said: The UK is the fourth largest investor in Spain. We are not going to meet those challenges by causing unnecessary economic damage to each other. Nick Thomas-Symonds said prioritising European-made products in public procurement would risk impacting our deeply integrated supply chains'."
The EU plans legislation to prioritise European-made products in public procurement and consumer schemes to reduce reliance on imports and boost local production in strategic sectors. The UK warned that strict preference requirements could disrupt deeply integrated UK–EU supply chains, raise costs and create unnecessary trade barriers, including impacts on UK–Spain supply chains. The UK noted its position as a major investor in Spain and emphasised mutual challenges in raising competitiveness and productivity. The UK government is seeking closer economic ties and possible sectoral alignment with the EU, though such moves may face domestic political opposition.
Read at www.theguardian.com
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