Automobile Dealers Association Welcomes New Trade Pact
ALEXANDRIA, Va. — The American International Automobile Dealers Association today welcomed the news that the United States, Canada and Mexico have agreed to a revamped version of the North American Free Trade Agreement.
The trade pact, now known as the United States-Mexico-Canada Agreement, is expected to be signed by the countries within 60 days. It will then need to be ratified by Congress.
“Uncertainty is the enemy of business, large and small,” said Cody Lusk, president and CEO of the AIADA., in a statement. “Today’s announcement of a trilateral agreement between the U.S. Canada and Mexico allows the entirety of the auto industry, from manufacturers to hometown dealers, to once again plan for the future. AIADA’s 9,600 dealer members look forward to learning additional details about the pact and its impact on the auto sector.”
While praising the trade agreement, Lusk said he remains “deeply concerned over the Department of Commerce’s ongoing 232 investigation and the threat of massive new tariffs on imported autos and parts. Dealers will continue to urge the Trump Administration and Congress to pursue positive trade policies that keep the American auto industry open, dynamic and competitive,” he said.
Members of the American International Automobile Dealers Association employ more than 577,000, which results in a $32 billion annual payroll and an additional 527,000 indirect jobs, the trade group estimates. Last year its members sold 8.4 million vehicles to American consumers or 59% of total U.S. retail vehicle sales.
Copyright 2021 The Business Journal, Youngstown, Ohio.