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News from Brussels
Responding to the announcement of a trade deal between the EU and the US, avoiding an escalation in damaging tariffs, Sigrid de Vries, Director General of the European Automobile Manufacturers’ Association (ACEA), stated:
“The agreement takes an important step towards easing the intense uncertainty surrounding transatlantic trade relations in recent months, and ACEA welcomes this development in principle. Nevertheless, the US will retain higher tariffs on automobiles and automotive parts, and this will continue to have a negative impact not just for industry in the EU but also in the US.”
At this stage, many elements of the agreement still need to be clarified. ACEA will closely examine the details as they become available and assess the implications for Europe’s vehicle manufacturing.
Looking forward, the EU and the US should focus on reducing obstacles to vital transatlantic automotive trade, paving the way for stronger economic ties and shared prosperity.