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More bad news for Europe’s carmakers and their employees today, as the EU has started negotiations with Japan about a free trade agreement, which could flood the market with cheaper imports.
As far as the automotive industry is concerned, Japan has a lot more to gain, according to said Ivan Hodac, the secretary general of ACEA lobby group.
The European car market would drop a 10 percent tax on Japanese import, compared to Japan's zero import tariffs. This would hurt already struggling carmakers like Fiat and PSA Peugeot Citroen, who specialize in smaller car.
"The Commission must take into account the needs of sensitive sectors - carmakers," French Trade Minister Nicole Bricq told reporters in Brussels, warning that Paris would fight to defend its industry during negotiations.
Story via AutoNews
The European car market would drop a 10 percent tax on Japanese import, compared to Japan's zero import tariffs. This would hurt already struggling carmakers like Fiat and PSA Peugeot Citroen, who specialize in smaller car.
"The Commission must take into account the needs of sensitive sectors - carmakers," French Trade Minister Nicole Bricq told reporters in Brussels, warning that Paris would fight to defend its industry during negotiations.
Story via AutoNews
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