U.S. report on the effects of import of cars and auto parts
The U.S. Commerce Department has submitted its report on an investigation on the effects of imports of cars and auto parts on U.S. national security to the White House on Sunday.
Sigrid de Vries, Secretary General of CLEPA, the association of automotive suppliers in Europe, comments:
“Rules-based international trade is a key priority for the automotive industry and its complex international value chains. Automotive suppliers in the EU and the U.S. therefore strongly oppose the imposition of any tariffs. Additional tariffs, on the magnitude apparently considered by the U.S. administration would have a strongly negative effect on the automotive industry, workers and consumers in Europe and the U.S.
Tariffs act like a tax, which either cut into margins or passed on to consumers or up the supply chain. Suppliers risk being hit twice by tariffs levied on their imports and price pressure from customers. In any case, manufacturing becomes more expensive at the expense of businesses, investment, jobs and the consumers themselves.
The U.S. Department of Commerce should publish the report quickly, so that the findings and recommendations can be evaluated quickly so that uncertainty for business can at least be partly alleviated.”
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In: Growth & Competitiveness, Trade