EU vehicle manufacturers express concern on US investigation into auto imports
Brussels, 28 May 2018 – The European Automobile Manufacturers’ Association (ACEA) has expressed its concern regarding the initiation by the United States of a national security investigation into imports of motor vehicles and auto parts.
“Automobile manufacturers active in both Europe and the US are truly global players with interests in both regions,” stated ACEA Secretary General, Erik Jonnaert. “Any trade-restrictive measure in the automotive sector will have a serious negative impact not only on the EU, but also on the US and the global economy.”
European auto makers not only import vehicles into the US, but many of them also have a major manufacturing footprint there, thereby creating hundreds of thousands of direct and indirect jobs. A large part of their US-production is exported to third countries, including the European Union.
Jonnaert: “The automobile industry is a major investor in both the American and the European economies, creating economic growth and employment. We are convinced that vehicle imports from the EU do not pose a national security risk to the United States.”
EU-US auto-related trade currently accounts for some 10% of total trade between the two regions.
ACEA’s members are global companies, and international trade is an important pillar of the European automobile industry’s competitiveness. ACEA therefore supports trade that is both free and fair, and respect for the international trade rules upon which these principles are based.
- 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.
Interested in ACEA press releases?
Receive them directly in your inbox!
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.