According to foreign media reports, the EU warned the United States that the imposition of import tariffs on cars and auto parts will damage the US auto industry and may lead its trading partners to take counter measures against US exports worth US$294 billion. In a 10-page submission submitted to the US Department of Commerce on June 29, local time, the EU said that it is unreasonable to impose import tariffs on cars and auto parts, and it has no economic significance.
On May 23, the US Department of Commerce launched an investigation on May 23 under the direction of US President Donald Trump. Trump has repeatedly criticized the EU's trade surplus with the United States and higher import taxes on cars. The EU imposes a 10% tariff on imported cars from the United States, while the United States currently imposes a 2.5% tariff on imported cars from the European Union. The EU said that the United States imposes higher import tariffs on some goods such as trucks.
Trump said last week that the US government is about to complete a study on raising tariffs on imported cars in the EU, and hinted that action will be taken soon after he threatened to impose a 20% import tariff on all EU-assembled cars.
In 2017, the value of cars exported by the EU to the United States reached 37.4 billion euros (33.1 billion pounds), while the value of cars exported by the United States to the EU reached 6.2 billion euros. The EU said in a submission to the US Department of Commerce that automakers in the EU produce nearly 2.9 million vehicles in the United States, providing 120,000 jobs, if auto dealers and auto parts retailers are included. This number will reach 420,000.
The EU said that in recent years, although US domestic production cannot meet the increased demand of the automotive market, the US automobile imports have largely not increased significantly with the overall expansion of the US automobile market.
The submission also mentioned that tariffs on cars and auto parts may increase the cost of production for US manufacturers, thereby damaging US car production. The EU expects that if the United States imposes a 25% import tariff, it will have a negative impact on US gross domestic product (GDP) of $13-14 billion, and it will not benefit its current GDP.
According to the submission, if the trading partners take corresponding countermeasures against the current US steel and aluminum import tariffs, US exports worth US$294 billion (19% of total US exports) may be affected. In addition, the submission also emphasized that the link between the automotive industry and national security is “weakâ€. Military vehicles such as Humvee are produced by different niche producers.
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