Get 40% Off
🚨 Volatile Markets? Find Hidden Gems for Serious OutperformanceFind Stocks Now

European car imports no threat to U.S. national security - VDA

Published 17/02/2019, 15:34
Updated 17/02/2019, 15:35
© Reuters. Export cars are loaded on a RoRo ship of Italian Grimaldi Group at a terminal in the port of Hamburg

FRANKFURT (Reuters) - Car imports from Europe do not endanger U.S. national security, German car lobby the VDA said on Sunday, echoing comments by Chancellor Angela Merkel a day earlier.

The U.S. Commerce Department is due to deliver recommendations to President Donald Trump by Sunday on whether imported vehicles and parts pose a national security risk and to outline options on how to address the issue, including whether to impose tariffs.

Germany's car industry alone has created more than 113,000 jobs in the United States in recent years with around 300 factories, making them the largest car exporter from the United States, VDA said in a statement.

"All this strengthens the USA and is not a security problem," VDA said, adding that any decision by the U.S. Department of Commerce to classify European auto exports as a national security threat would be "incomprehensible".

Merkel also dismissed such concerns on Saturday.

"We are proud of our cars and so we should be," Merkel said. She acknowledged that many were built in the United States and exported to China.

"If that is viewed as a security threat to the United States, then we are shocked," she told the Munich Security Conference to applause from the audience.

Latest comments

says VDA ,they are a similar malicious lobbyist group like the NRA in the USA.
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.