Bill Hanvey, president and CEO, Auto Care Association, released the following statement in response to the recently signed Phase One trade agreement between the United States and China:
“We applaud the Trump administration for successfully signing Phase One to restore and strengthen the U.S.-China trading relationship. This is a positive first step in establishing certainty for U.S. businesses and our industry’s supply chains. However, most tariffs remain in place, causing severe financial strain on U.S. businesses’ bottom lines and the consumer’s ability to access cost-effective options. We look forward to the continuation of these negotiations as the two countries work towards a comprehensive, fair agreement that allows U.S. industries to be more competitive in the global marketplace.”
For the latest news and information on the global automotive aftermarket industry, visit https://aftermarketintel.com.