The European automakers trade group issued a statement after 25% U.S. tariffs on imported vehicles took effect Thursday, saying it’s “deeply concerned” about the effect.

The U.S. is the European Union’s second-largest vehicle export market after the United Kingdom in terms of value, representing 22% of vehicle exports last year, according to the European Automobile Manufacturers Association, or ACEA, the group said. The value amounted to about $43 billion.

On the other hand, nearly $9 billion worth of vehicles were exported from the U.S. to the European Union last year, or 9% of U.S. vehicle exports, ACEA calculated.

“European automakers are committed to being active in the US, making an important contribution to the US economy, accounting for around half a million jobs across the auto sector,” ACEA Director General Sigrid de Vries said in a statement, citing data from the Michigan-based Center for Automotive Research, “exporting over 750,000 vehicles to the US in 2024, and actively investing in local communities to foster economic prosperity. 

European leaders haven’t yet responded to U.S. tariffs, including reciprocal duties the White House announced Wednesday, but were reportedly preparing countermeasures.

“We urge our leaders to meet urgently so that they can find a solution to any issues preventing free and fair trade between historic allies and allow the EU-US relationship to flourish once again,” de Vries said.

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