ACEA Director General Sigrid de Vries stated: “European automakers have been investing in the US for decades, creating local jobs, stimulating economic growth and generating huge tax revenues for the US government. We urge President Trump to consider that tariffs could negatively impact not only global automakers, but also US domestic production,”
The tariffs will not only affect imports to the US, but American consumers will also face additional costs, de Vries added, noting that measures on automotive parts will also hurt US automakers. According to ACEA, European manufacturers export between 50% and 60% of the vehicles they produce in the US, making a significant contribution to the US trade balance.
The EU and the US should enter into a dialogue to find an immediate solution to avoid the damage of tariffs and a trade war.
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