AIADA Responds to U.S.-EU Trade Announcement on July 25, 2018 that the U.S. and the European Union reached an agreement to avoid the further escalation of trade tensions. President Donald Trump met with European Commission President Jean-Claude Juncker and his top trade official Cecilia Malmström at the White House to address the trade issue, including automotive tariffs.
AIADA Responds to U.S.-EU Trade Announcement
“AIADA is pleased to see positive discussions between President Trump and the EU surrounding our trade differences,” said AIADA President and CEO Cody Lusk. “As I’ve said in the past, no one wins a trade war. While the President did not address the ongoing auto 232 investigation, AIADA’s dealer members are optimistic that today’s agreement will lead to progress in resolving auto trade differences, and continue to promote the principles of trade that have made the American auto industry so successful.”
America’s 9,600 international nameplate auto franchises, many of which are family-owned businesses, employ more than 577,000 Americans, resulting in a payroll of $32 billion and an additional 527,000 indirect jobs. Dealers represent the retail side of an international auto industry that has invested $75 billion in U.S. operations and more than doubled its production in the U.S. over the past 15 years. In 2016, 5.5 million vehicles were built by Americans at these factories. While most of these vehicles were sold to American consumers, 925,000 of them were exported to over 140 countries.