EU-US trade: auto makers urge MEPs to support talks
Brussels, 13 March 2019 – Ahead of a vote in the European Parliament tomorrow, auto makers are calling upon MEPs to back the European Commission’s request to start trade talks with the United States.
Tomorrow, the European Parliament will issue a non-binding resolution on the draft negotiating mandate which the European Commission submitted to member states in January. This mandate focuses on eliminating tariffs from industrial goods, including motor vehicles.
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 strong interests and investments in both regions.
The European Automobile Manufacturers’ Association (ACEA) supports negotiations on a trade deal that would remove tariffs and enhance regulatory cooperation between the EU and the US. Opening such talks would ease trade tensions and decrease the likelihood that the US would impose duties on EU imports of automobiles and auto parts.
Erik Jonnaert, ACEA Secretary General: “The automobile industry is a major force for economic growth and employment. It is not only in Europe’s best economic interest to commence transatlantic trade talks, but it is also in the interest of the US and global economies, not to mention consumers worldwide.”
Once the Parliament has voted, the Council of Ministers must approve the proposals before the Commission can start negotiations.
Notes for editors
- ACEA’s latest statement on the section 232 national security investigation into motor vehicle and auto part imports can be found here:
- EU-US auto-related trade data can be found here:
- The European Automobile Manufacturers’ Association (ACEA) represents the 15 major Europe-based car, van, truck and bus makers: BMW Group, CNH Industrial, DAF Trucks, Daimler, Ferrari, Ford of Europe, Honda Motor Europe, Hyundai Motor Europe, Jaguar Land Rover, Renault Group, Stellantis, Toyota Motor Europe, Volkswagen Group, Volvo Cars, and Volvo Group.
- Visit www.acea.auto for more information about ACEA, and follow us on www.twitter.com/ACEA_auto or www.linkedin.com/company/ACEA/.
- Contact: Cara McLaughlin, Communications Director, firstname.lastname@example.org, +32 485 88 66 47.
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About the EU automobile industry
- 14.6 million Europeans work in the auto industry (directly and indirectly), accounting for 6.7% of all EU jobs.
- 11.5% of EU manufacturing jobs – some 3.7 million – are in the automotive sector.
- Motor vehicles are responsible for €398.4 billion of tax revenue for governments across key European markets.
- The automobile industry generates a trade surplus of €74 billion for the EU.
- The turnover generated by the auto industry represents more than 8% of the EU’s GDP.
- Investing €62 billion in R&D annually, the automotive sector is Europe’s largest private contributor to innovation, accounting for 33% of total EU spending.