financetom
Business
financetom
/
Business
/
US confirms EU autos and auto parts 15% tariffs began Aug 1
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
US confirms EU autos and auto parts 15% tariffs began Aug 1
Sep 24, 2025 9:52 AM

WASHINGTON, Sept 24 (Reuters) - The Trump administration

issued a formal notice on Wednesday implementing the U.S. trade

agreement with the European Union, confirming that autos and

auto parts imports will be subject to a 15% duty from August 1

and listing exemptions for certain pharmaceutical compounds, all

aircraft and aircraft parts, and certain natural resources.

In a Federal Register notice, the Commerce Department and

the U.S. Trade Representative's office said they have amended

the U.S. tariff schedule to implement the Framework Agreement

reached with the EU in late July that lowers President Donald

Trump's tariffs to 15% on the vast majority of imports from the

EU, including autos.

The deal was subsequently modified to make the duty rate

retroactive to August 1, but European automakers have been

waiting for the formal notice.

The U.S. notice also specifies hundreds of products from

the EU that are exempt from tariffs, including natural resources

such as cork that are unavailable in the U.S., all aircraft and

aircraft parts, and generic pharmaceuticals and their

ingredients and chemical precursors.

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Gucci's steep sales decline throws spotlight on China
Gucci's steep sales decline throws spotlight on China
Mar 20, 2024
By Mimosa Spencer PARIS (Reuters) - Shares of Kering are expected to open down on Wednesday, after the company warned first quarter sales at its star label Gucci would drop by around 20% due to weakness in Asia. The warning underscores the challenge Kering faces as it seeks to reignite sales momentum at Gucci, which accounts for half of group...
Lonza to buy biologics site from Roche in U.S. for $1.2 billion
Lonza to buy biologics site from Roche in U.S. for $1.2 billion
Mar 19, 2024
ZURICH (Reuters) -Swiss contract drug manufacturer Lonza said on Wednesday it has signed an agreement to acquire the Genentech manufacturing facility in Vacaville, California, from drugmaker Roche for $1.2 billion in cash. Lonza plans to invest around 500 million Swiss francs ($562.30 million) to upgrade the facility and enhance capabilities at the site to accommodate the next generation of mammalian...
Oil retreats from multi-month highs, strong dollar dents demand
Oil retreats from multi-month highs, strong dollar dents demand
Mar 20, 2024
SINGAPORE (Reuters) -Oil prices edged lower on Wednesday, as a stronger dollar curbed investor appetite while traders took some money off the table after benchmarks rallied to multi-month highs in the previous session. Brent crude futures for May fell 28 cents, or 0.3%, to $87.10 a barrel by 0711 GMT. U.S. West Texas Intermediate futures for April delivery, which expire...
Lonza to buy biologics site from Roche in US for $1.2 bln
Lonza to buy biologics site from Roche in US for $1.2 bln
Mar 19, 2024
ZURICH, March 20 (Reuters) - Swiss contract drug manufacturer Lonza said on Wednesday it has signed an agreement to acquire the Genentech manufacturing facility in Vacaville, California, from drugmaker Roche for $1.2 billion in cash. Lonza plans to invest around 500 million Swiss francs ($562.3 million) to upgrade the facility and enhance capabilities at the site to accommodate the next...
Copyright 2023-2026 - www.financetom.com All Rights Reserved