The Motor & Equipment Manufacturers Association (MEMA) says it is encouraged by the recent announcement that U.S. President DonaldTrump plans to sign Phase-One of a new trade deal with China next week.
MEMA says it looks forward to seeing more details on the deal. The association has repeatedly called for an agreement between the U.S. and China that will allow U.S. companies to remain competitive in a global marketplace while protecting intellectual property (IP) rights.
MEMA has opposed a wide range of tariffs that impact the motor vehicle parts industry, including the third round of Sec. 301 tariffs imposed on imports from China, which included thousands of motor vehicle parts and materials.
The association has also voiced concerns that these tariffs will have a disproportionate and significant impact on U.S. consumers who rely on affordable products for the repair and maintenance of their vehicles. Furthermore, the increased costs resulting from the tariffs will place a burden on small- and medium-sized businesses.
President Trump said he would sign the recently negotiated phase-one trade deal with China in Washington on Jan. 15—marking a formal truce in the U.S-China trade war—and would later travel to Beijing to negotiate a broader pact.