MILAN (Reuters) -Ferrari has trimmed price increases on some of the models it sells in the U.S. to a maximum of 5% following a deal to reduce the import tariff on European products, a spokesman told Reuters.

The luxury carmaker had in April announced prices on some models in the U.S. were increasing by up to 10% after President Donald Trump imposed a 27.5% levy on European auto imports.

Following a deal between U.S. administration and the European Union the levy was later cut to 15%.