EU and US need intensive and reliable relations
The German automotive industry is a lively and important part of the US economy. Our manufacturers and suppliers operate around 300 plants there employing more than 118,000 people. German auto makers build over 800,000 vehicles a year in the US. We not only produce for the US market, but also export vehicles to many other countries. More than half of all cars that we build there are destined for export. This means German OEMs make a considerable contribution to the United States’ automotive trade balance.
One of the reasons behind the success of the German automotive industry is its strategy of internationalization. Accessible markets are therefore crucially important to our activities in the US.
For this reason we are hoping that the positions of the EU and the US will move closer together. It is good that the discussions are being held at the highest political level. They should set in motion a constructive dialog on future agreements. That would be a big step in the right direction.
The aim must be to reduce the import duties and trade barriers that each party imposes on the other, instead of introducing new ones. There are various ways of doing this. One possibility would be a transatlantic agreement on industrial goods – which would be in line with WTO rules and represent a win-win situation. On the other hand, if the vicious circle of import duties and countermeasures continues, it will adversely affect employment and investment – on both sides of the Atlantic.