However, what kind of impact will the prospect of importing duty-free cars between the United States and Europe affect car companies in different countries? As the largest exporter of automobiles in Europe, Germany is correspondingly active and cheers for the whole people; the French auto industry is worried or even opposed to this; Chinese car companies may benefit from it. German car companies or become the biggest winners As the largest exporter of automobiles in Europe, half of the vehicles produced by German automakers sold in the United States are imported from the EU. If Trump imposes any new tariff on imported cars, it will be the hardest hit. Therefore, the results of the meeting between Trump and European Commission President Jean-Claude Juncker Received a wide range of positive responses from Germany. Peter Altmaier, director of the German Chancellor Merkel's office, said that "this breakthrough can avoid trade wars and save millions of jobs!" German government spokesman Ulrike Demmer reiterated that Germany supports the European Commission in future negotiations. French car companies are not only unable to benefit from it, but also worried about the favorable Asian competitors. French Economy Minister Bruno Le Maire is less enthusiastic about this. Previously, under the threat of the EU's tariff increase, Maire opposed the EU's rush to cut US auto tariffs in order to cater to the United States, and said that France and Germany should first study the impact on the auto industry. According to foreign media reports, Maire asked Juncker to "describe" the measures reached this time. The French car company said the agreement will open the door for Asian competitors because the WTO stipulates that all partners must comply with the rules applicable to “most favored nation treatmentâ€. In other words, if a US company obtains a EU duty-free license, then other EU partners such as Asian car companies can get the same license. Founders of the French Automotive Industry Production Platform (PFA) include PSA (Peugeot Citroen), Renault, auto parts supplier Valeo, Faurecia, Plastic Omnium and tire manufacturer Michelin. For French car companies such as Renault and PSA, it means that their competition in the European market is more intense. Moreover, since French automakers do not sell vehicles in the United States, they will not benefit from the tax exemption for vehicles exported to the United States in the future. French government minister Chatel said that if China, Japan, South Korea and other countries "join competition", multilateral agreements to reduce tariffs may bring "unfair competition in norms and rules." A spokesman for the French Ministry of Economic Affairs said that for this reason, France does not want to reduce tariffs multilaterally. Chatel praised the “cautious†approach taken by the French government to the agreement reached in the US-Europe talks. He also said that any unilateral increase in tariffs will damage the global economy, especially the automotive industry. PSA and Renault spokespersons have not commented. Power Steering Pump,Hps Pump,Gear Pump,Hydraulic Power Steering Pump Fuxin Dare Automotive Parts Co., Ltd. (DARE AUTO) , https://www.fuxindareauto.com
According to foreign media reports, following the talks between the EU and the United States on trade tariffs on July 25, Trump agreed to temporarily suspend tariffs on imported cars from the EU. The EU also agreed to purchase US LNG and reduce US soybeans. Trade barriers to help American farmers and the energy industry. The two sides will negotiate an agreement to reduce industrial tariffs. Trump even proposed the possibility of completely eliminating trade barriers, which eased the trade relations between the two sides and avoided trade wars. 