Ola Källenius, the CEO of Mercedes-Benz and President of the European Vehicle Producers’ Affiliation (ACEA), has emphasised the significance of the European Union (EU) taking proactive measures to keep away from a possible commerce battle with america.
The automotive sector, a big contributor to the EU’s economic system, is at present navigating a fancy panorama marked by world competitors and the transition to electrical and hydrogen zero-emission autos.
Källenius highlighted that the trade faces unprecedented challenges, together with the necessity to adjust to stringent CO2 targets and the potential imposition of latest tariffs by the US.
He additional urged EU leaders to hunt a “grand discount” with the US to stop a commerce battle that might have detrimental results on each economies. He identified that European automakers export tens of billions of {dollars} value of automobiles to the US yearly, and the specter of excessive tariffs may disrupt this important commerce relationship.
