US lowers tariff on EU autos, implementing terms of deal

The United States has lowered tariffs on auto imports from the European Union to 15 percent, retroactive to August 1, following a trade pact. This move significantly reduces the previous 27.5 percent tariff imposed after Washington's additional 25 percent duty. The agreement also includes exemptions for sectors like aircraft and pharmaceuticals, effective September 1, with plans for further expansion.