BUSINESSEUROPE: ADDITIONAL DUTIES ON CARS AND CAR PARTS WILL HARM BOTH EUROPE AND THE US

Reacting to the US announcement of 25% additional duties, BusinessEurope Director General Markus J. Beyrer said:

“Additional duties on cars and car parts will harm both Europe and the US. They will add costs and could have a negative impact on existing investments on both sides of the Atlantic. Instead of increasing tariffs, the EU and the US should be committed to eliminating duties to generate more market opportunities and stimulate investments.

We are still convinced that solutions can be found through negotiations if there is political will on both sides. In the meantime, the EU needs to safeguard its economic interests and enhance its build more resilience through an ambitious market diversification agenda.”