Finance Minister Tanczos Barna on Monday met the Association of Romania’s Vehicle Manufacturers (ACAROM) and the Concordia Employers’ Confederation for consultations amid the new tariffs imposed by the U.S.

„We are preparing the first measures to protect the automotive industry in Romania amid the new customs duties imposed by the U.S. Today we started the consultation process with the Association of Romania’s Vehicle Manufacturers (ACAROM) and the Concordia Employers’ Confederation. Romanian companies supply essential components to the European automotive industry and thus contribute indirectly to car exports from the European Union to the United States. Given the circumstances, it is essential to carefully monitor the market developments and the new prospects generated by the current changes,” Tanczos wrote in a social media post on Monday.

Following the meeting, it was agreed that, together with industry representatives, an integrated analysis will be carried out on the impact of these tariffs on the automotive sector, in order to be able to develop effective aid schemes.

„Our priority remains to protect the competitiveness of Romanian companies and jobs in the automotive industry,” Tanczos said.

Under sweeping tariffs unveiled by the U.S. administration, imports of steel, aluminium and cars from the 27 EU member states will be subject to 25% tariffs.

AGERPRES