This meant that apart from its car industry, Europe is no longer an exporting continent, the senior executive said. It is not the case, though, for cars, as European carmakers consistently generate a large trade surplus, offsetting losses elsewhere. Earlier this month, the European carmakers’ representative ACEA warned that new “Made in Europe” rules aimed at supporting the sector risk backfiring. Meanwhile, Turkey has introduced new car tariffs, adding to the complexity of Europe’s trade environment. This can also happen in EU countries, as China has plants in Europe too, for instance the BYD plants in Hungary.