Breaking News: EU and US Reach Trade Agreement

In a significant move to de-escalate trade tensions, the European Automobile Manufacturers’ Association (ACEA) has welcomed the newly announced trade deal between the United States and the European Union. Despite the positive step, the association highlighted concerns over the continued imposition of a 15% tariff on automobiles and automotive parts by the US.

Industry Impact and Future Steps

"This agreement marks an important milestone in reducing the uncertainty that has clouded transatlantic trade relations," stated ACEA Director General Sigrid de Vries. However, she emphasized that the higher tariffs would negatively affect both the EU and US automotive industries. The ACEA urges both parties to further collaborate on eliminating trade barriers to ensure mutual prosperity.