In view of billions in subsidies in the United States, the German auto industry is pushing for speedy negotiations on a free trade agreement with the United States. The transatlantic trade and investment partnership originally sought between the EU and the USA, known as TTIP, had failed.
“TTIP was an opportunity, a missed opportunity,” said the President of the Association of the Automotive Industry (VDA), Hildegard Müller, to the newspapers of the Funke media group. “We must therefore quickly talk about new agreements with the United States.”
With the so-called Inflation Reduction Act (IRA), the USA is pursuing a “real settlement policy” that the auto industry would also like for Europe, said Müller. In Europe, on the other hand, there is more regulation. The VDA President called for a dedicated bureaucracy reduction program. “It’s not about further subsidies, but about real improvements to the location.”
