European automakers urge EU to speed up US trade pact

The European Automobile Manufacturers' Association (ACEA) is pressing the European Union institutions to expedite the finalization of the EU-US trade agreement. In a statement released ahead of crucial negotiations between the European Parliament, Commission, and Council, ACEA emphasized that timely completion of the legislation is paramount for providing clarity and unlocking the full benefits of the deal. While not directly referencing President Donald Trump's recent threat of a 25% tariff on European car imports, the automotive lobby underscored the significance of the US market, which remains the EU's second-largest export destination for new vehicles. This trade pact, initially agreed upon in July between Trump and European Commission President Ursula von der Leyen, involved commitments such as a 15% tariff on EU imports into the US and the purchase of $750 billion in energy products. However, the agreement has faced hurdles, including Trump's threat to increase tariffs and Brussels' assertion that it is fulfilling its commitments while seeking clarity from Washington. The European Parliament had previously stalled the pact, introducing safeguards that allow for its suspension if Washington imposes new tariffs or questions the bloc's territorial integrity. As negotiations resume, divergences remain, particularly concerning a proposed anti-threat clause championed by the European Parliament, highlighting the complex and politically charged nature of finalizing this critical trade deal.

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La finalización a tiempo de la legislación es esencial para aportar claridad y garantizar todos los beneficios del acuerdo