The EU and US automotive sectors have today reaffirmed their support for a strong transatlantic trade agreement in a joint presentation in Brussels.
The European Automobile Manufacturers’ Association (ACEA), the American Automotive Policy Council (AAPC) and the Alliance of Automobile Manufacturers (Alliance) used the presentation to call for a comprehensive automotive deal under the Transatlantic Trade and Investment Partnership (TTIP).
The common goal is to ensure that vehicles and their components can be imported and exported without unnecessary burdens and costs. Within this, the top priority is to achieve ‘regulatory convergence’ of existing US and EU safety standards – meaning that these standards would be recognised as equivalent. In addition, the TTIP should help ensure that EU and US regulatory authorities closely cooperate to avoid future divergence on new regulations.
AAPC, ACEA and the Alliance are convinced that the full potential of any ambitious agreement can only be reached if such regulatory requirements are included. The three associations have been working together since the announcement of the TTIP negotiations, aiming to demonstrate that the levels of safety performance in US and EU vehicles are essentially equivalent.
EU-US automotive trade currently accounts for 10% of total trade between the two regions. The US is a prime destination for UK-built vehicles, taking almost 10% of exports in 2013.
To learn more about the UK automotive industry, download SMMT’s Motor Industry Facts 2014.
