Today, we are examining the impact of the EU Green Deal on the international automotive industry, with a specific focus on supply chain regulations. Ron Hesse, from GlobalAutoIndustry.com, engages in a discussion with George Zaharatos, a principal in KPMG’s Trade and Customs practice, to explore this pivotal topic.
Mr. Zaharatos, a distinguished figure in this field, brings a wealth of knowledge and experience to the conversation. He emphasizes the key areas that the automotive industry must be attentive to and prioritize in light of the EU Green Deal, including trade disruption, forced labor risk, and carbon tax regulations, as well as U.S. trade controls and incentives.
A significant question arises regarding the potential implications of the regulations arising from the EU Green Deal for U.S. and international companies. Mr. Zaharatos provides clarity on this matter, delving into the specific EU regulations that automotive companies should currently be concentrating on.
Furthermore, the discussion shifts towards the global regulatory environment and the emerging trends. Are other countries following the EU’s lead, or is it a case of the EU setting the precedent for other nations to follow suit? Mr. Zaharatos offers his insights on this aspect, comparing requirements in the U.S. and other jurisdictions to those of the EU.
The impact of these supply chain regulations on the automotive industry is another crucial point of discussion. It poses both challenges and opportunities for companies operating in this sector, necessitating them to adapt and strategize accordingly. In light of these new reporting requirements, companies need to consider how they can leverage their existing efforts to maximize efficiency.
The conversation provides valuable insight into the current landscape of the automotive industry in the wake of the EU Green Deal. It underscores the necessity for companies to be proactive and diligent in navigating these regulations. It is no longer just about compliance; it is about leveraging these changes to drive sustainable and ethical practices within the industry.
This interview serves as a significant resource for industry professionals, shedding light on the intricacies of supply chain regulations and the broader implications of the EU Green Deal on the global automotive landscape. As the industry continues to evolve, staying informed and proactive is essential in addressing these challenges and embracing the opportunities presented by these regulatory changes.