According to The European Automobile Manufacturers’ Association (ACEA), the US auto tariffs will hurt global automakers and US manufacturing at the same time. ACEA is deeply concerned by the US President’s announcement of additional tariffs on our sector. It comes at a watershed moment for our industry’s transformation and as fierce international competition mounts.
Tariffs will not just impact imports into the US, a penalty that American consumers are likely to pay, but measures on automotive parts will also hurt auto makers producing cars in the US for export markets. European manufacturers export between 50% and 60% of the vehicles they make in the US, making a substantial positive contribution to the US trade balance.
The EU and the US must engage in dialogue to find an immediate resolution to avert tariffs and the damaging consequences of a trade war.
“European automakers have been investing in the US for decades, creating jobs, fostering economic growth in local communities, and generating massive tax revenue for the US government,” said ACEA Director General, Sigrid de Vries. “We urge President Trump to consider the negative impact of tariffs not only on global auto makers but on US domestic manufacturing as well.
Source: acea.auto/press