AIADA Responds to U.S.-EU Trade Announcement
Dealers are optimistic discussion will lead to progress on autos
Alexandria, VA — July 25, 2018 — The American International Automobile Dealers Association (AIADA) today reacted to an announcement that the U.S. and the European Union reached an agreement to avoid the further escalation of trade tensions. President Donald Trump today met with European Commission President Jean-Claude Juncker and his top trade official Cecilia Malmström at the White House to address the trade issue, including automotive tariffs.
“AIADA is pleased to see positive discussions between President Trump and the EU surrounding our trade differences,” said AIADA President and CEO Cody Lusk. “As I’ve said in the past, no one wins a trade war. While the President did not address the ongoing auto 232 investigation, AIADA’s dealer members are optimistic that today’s agreement will lead to progress in resolving auto trade differences, and continue to promote the principles of trade that have made the American auto industry so successful.”
America’s 9,600 international nameplate auto franchises, many of which are family-owned businesses, employ more than 577,000 Americans, resulting in a payroll of $32 billion and an additional 527,000 indirect jobs. Dealers represent the retail side of an international auto industry that has invested $75 billion in U.S. operations and more than doubled its production in the U.S. over the past 15 years. In 2016, 5.5 million vehicles were built by Americans at these factories. While most of these vehicles were sold to American consumers, 925,000 of them were exported to over 140 countries. For more on the impact of America’s international nameplate dealers on our economy visit AIADA.org/our-impact.
Established in 1970, AIADA is and continues to be the only association whose sole purpose is to represent America’s international nameplate automobile franchises that sell and service the following brands in the United States: Acura, Aston Martin, Audi, Bentley, BMW, Ferrari, Genesis, Honda, Hyundai, Infiniti, Jaguar, Kia, Land Rover, Lexus, Maserati, Mazda, Mercedes, MINI, Mitsubishi, Nissan, Porsche, Rolls Royce, Scion, Smart, Subaru, Toyota, Volkswagen, and Volvo. These retailers have a positive economic impact both nationally and in the local communities they serve, providing over 577,000 American jobs. Visit AIADA online at www.aiada.org.
Libby Newman, NewmanL@aiada.org, 703-519-7800