Call for a 'Grand Bargain' in EU-US Trade Negotiations

The European Automobile Manufacturers' Association (ACEA) has issued a compelling appeal for the European Union to engage in negotiations for a trade agreement with the United States. This strategic move aims to mitigate potential tensions and foster a harmonious trade relationship. In a detailed five-page letter dispatched this Thursday, the association has reached out to the Presidents of the European Commission and Parliament, alongside EU Ambassadors, advocating for a "grand bargain" with the US.

Anticipating the Impact of the New US Administration

This appeal is timely, coinciding with the imminent inauguration of Donald Trump's administration. There is growing apprehension over the adoption of protectionist policies that could adversely affect the automotive sector. Ola Kallenius, the ACEA President and CEO of Mercedes-Benz, has underscored the industry's significant economic connections with Washington by signing the letter. The ACEA's membership boasts a roster of leading automotive brands, including BMW, DAF, Daimler Truck, Ferrari, Ford of Europe, Honda, Hyundai Motor Europe, Iveco, JLR, Mercedes-Benz Group, Nissan, Renault, Toyota Europe, Volkswagen Group, and Volvo Group.

Looking Forward to Collaborative Efforts

"We are eager to collaborate with the incoming administration on initiatives that promote the growth and development of the US manufacturing and auto industries, alongside enhancing EU-US trade relations," Kallenius articulated in the correspondence.