TTC: auto industry joint statement in support of the US-EU Transatlantic Trade and Technology Council
The associations representing the US and EU motor vehicle manufacturers – the European Automobile Manufacturers’ Association (ACEA), the American Automotive Policy Council (AAPC), the Truck and Engine Manufacturers Association (EMA), and the Alliance for Automotive Innovation – welcome the creation of the US-EU Trade and Technology Council (TTC).
We strongly support the revival of closer transatlantic coordination on critical issues arising from the nexus of trade with climate change, technology development and supply chains, for example.
We expect that this initiative will lead to a deepening of transatlantic trade and economic relations, promoting bilateral trade and investment, avoiding new technical barriers to trade, fostering innovation, research and development, and international standards and regulation.
This renewed partnership comes in the midst of a comprehensive transformation of the transport sector as motor vehicles make the transition to zero-emission powertrains and through the rapid development of connected and autonomous driving technologies. The application of these technologies promises to help achieve important shared goals: to improve road safety, address climate change, and enhance the competitiveness of the US and European automotive sectors.
It also comes at a time when the motor vehicle industry in both the US and Europe is facing considerable headwinds, including supply chain shortages, high shipping costs and the ongoing imposition of tariffs on imports of steel and aluminium.
We embrace and endorse the objective of the TTC to coordinate a transatlantic approach to trade and encourage the TTC to address these critical and urgent matters. Our associations are currently identifying key areas where the motor vehicle sector can contribute to this initiative and look forward to working with the US and the EU to achieve our common objectives.
The associations representing the US and EU motor vehicle manufacturers welcome the creation of the US-EU Trade and Technology Council (TTC).