The United States finally honoured its part of the agreement by lowering tariffs on European vehicles to 15% and re-imposing the basic ‘MFN’ tariff on a list of products that was agreed in July (see EUROPE B13689A1). On Thursday 25 September, the US administration published a notice about the modification of the relevant customs duties.
This applies to vehicles and car parts, which are now subject to a maximum cumulative tariff of 15%, and it will have retroactive effect from...