ACEA: Tariffs will hurt automakers and US manufacturing
The European Automobile Manufacturers’ Association (ACEA) has said it is “deeply concerned” following US president Donald Trump’s announcement that the country will impose a 25% tariff on all cars and car parts imported into the US.
Sigrid de Vries, ACEA director general, said: “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.
“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.”
He added that 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.
ACEA represents16 major Europe-based car, van, truck and bus makers: BMW Group, DAF Trucks, Daimler Truck, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Iveco Group, JLR, Mercedes-Benz, Nissan, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group and Volvo Group.
