The Association of Global Automakers (Global Automakers) and its members commend President Obama for his leadership on Trade Promotion Authority (TPA). Today’s renewal of TPA affirms the United States’ leadership in today’s global economy by encouraging the nation to engage in free and open market opportunities.
Open trade and investment policies have encouraged international automakers to build and expand their manufacturing, research, design, sales and finance operations in America,” said John Bozzella, Global Automakers President and CEO. “Enactment of TPA and prospects of additional free trade agreements provide even more opportunities for these companies to positively contribute to the United States economy.”
The United States has become a hot spot for international automakers to invest. In 2014, international automakers:
- Invested more than $72 billion cumulatively into their U.S. operations
- Combined with their dealers to employ more than 600,000 Americans
- Produced 5.3 million vehicles in the U.S.
- Accounted for nearly half of all U.S. auto production
- Exported nearly 900,000 U.S.-built vehicles globally
The growth in U.S. production and exports has strengthened local business, boosted local economies and benefitted American consumers. For the third time in five years, international automakers have claimed the top spots on Cars.com “American Made Car” Index.
“Today’s U.S. auto industry is diverse, vibrant and competitive. We have to continue to think with a global mindset or we will fall behind other countries with established free trade agreements,” said Bozzella. “That is why today’s final action on TPA by President Obama was critical in giving the United States another opportunity to prosper.”
The Association of Global Automakers represents international motor vehicle manufacturers, original equipment suppliers, and other automotive-related trade associations. Our members include American Honda Motor Co., Aston Martin Lagonda of North America, Inc., Ferrari North America, Inc., Hyundai Motor America, Isuzu Motors America, Inc., Kia Motors America, Inc., Maserati North America, Inc., McLaren Automotive Ltd., Nissan North America, Inc., Subaru of America, Inc., Suzuki Motor of America, Inc., and Toyota Motor North America, Inc.