The European Automobile Manufacturers’ Association (ACEA) has welcomed ‘constructive dialogue’ between the President of the European Commission, Jean-Claude Juncker, and US President, Donald Trump.
“Our industry thrives best in an environment without trade barriers”, stated ACEA Secretary General, Erik Jonnaert, who also added that the “agreement to initiate bilateral negotiations that seek to reduce tariff and non-tariff barriers to trade on industrial goods is a step in the right direction towards de-escalating trade tensions and addressing a trade-positive agenda.”
“Of course, there is a long way to go, and a lot of issues still need to be worked out,” Jonnaert cautioned. “However, we remain confident that the outcome will be positive for the EU and US economies as well as consumers on both sides of the Atlantic.”
EU-US auto-related trade currently accounts for some 10% of total trade between the two regions. Auto manufacturers active in both Europe and the US are global players with interests in both regions.
About the EU automobile industry
13.3 million people – or 6.1% of the EU employed population – work directly and indirectly in the sector.Motor vehicles account for some €413 billion in tax contributions in the EU15.
The sector is also a key driver of knowledge and innovation, representing Europe's largest private contributor to R&D, with €54 billion invested annually.
The automobile industry generates a trade surplus of €90.3 billion for the EU.
