Major auto trade groups back the free-trade deal between the US and the EU, considering that this would bring advantages to both regions.
The American Automotive Policy Council, the European Automobile Manufacturers’ Association and the Alliance of Automobile Manufacturers all supported the proposed free-trade deal at a meeting held yesterday, April 11th, of the U.S.-EU High-Level Regulatory Cooperation Stakeholders Forum. Matt Blunt, the AAPC President, who also represents Detroit’s Big Three, said that this deal would bring significant benefits, saving car makers save thousands of dollars per vehicle.
“Increased auto regulatory convergence will increase trade, lower costs, create jobs and improve the international competitiveness of the industry, strengthening the automotive industry and its economic contribution in both regions,” said Matt Blunt.
The free-trade deal will lower costs and make more competitive manufacturing cars in the EU and the US. Mitch Bainwol, the chairman and CEO of the Alliance of Automobile Manufacturers said that the two parties should “develop joint regulatory harmonization process to avoid future divergent approaches.”
“A successful regulatory convergence effort would demonstrate the U.S. and the EU commitment to worldwide standards providing momentum for global regulatory convergence,” added Blunt.