In plea to EU, Stellantis chairman warns European car industry risks ’irreversible decline’

Stellantis has issued a warning that the European auto industry is facing a critical threat that could lead to its destruction, citing challenges such as regulatory pressures and competition from global markets. This comes as U.S. automakers have adapted to tariffs imposed by the Trump administration, which has focused on taxing auto imports.

The European Central Bank (ECB) chief economist has highlighted a pressing issue for the EU, stating that China is increasingly dominating the market, urging the bloc to focus on fostering growth domestically. This warning reflects concerns over the EU's reliance on external markets and the competitive pressures posed by China's economic strategies.

Stellantis chairman has warned that the European car industry is at risk of an 'irreversible decline' due to various challenges, including competition from electric vehicle (EV) manufacturers and changing consumer preferences. This statement highlights the precarious state of the automotive sector in Europe, which is facing significant transformation pressures.

The European Union's antitrust chief, Teresa Ribera, has firmly stated that there will be no negotiations regarding the loosening of technology regulations during ongoing trade talks with the United States. This declaration follows comments from US Commerce Secretary Howard Lutnick, who suggested that easing tech rules could be linked to reductions in US tariffs.

The European Union (EU) and the United States (US) have resumed trade negotiations in Brussels to address unresolved issues from a tariff deal made in July. The US has urged the EU to reconsider its digital regulations to facilitate a reduction in steel and aluminum import duties. Additionally, global discussions on wildlife protection and sustainable trade are taking place in Uzbekistan, where the EU is advocating for stricter eel trade regulations, facing opposition from Japan.

The United States has demanded that the European Union implement 'balanced' digital regulations as a prerequisite for reducing steel tariffs. This request comes amid ongoing trade negotiations aimed at resolving issues stemming from a controversial tariff deal established in July.

The European Union (EU) and the African Union are commemorating 25 years of diplomatic relations with a summit in Angola aimed at enhancing economic cooperation between the two regions. This initiative comes as the EU seeks to strengthen its trade ties with Africa amidst growing competition from China and the United States.