The reduction eases a significant burden on EU automakers and is a key selling point for the deal.
European automakers will save around 500-600 million euros ($585-700 million) a month dating back to Aug. 1 after the Trump administration implemented the U.S. end of its trade deal with the European Union, the EU’s top trade negotiator said Thursday.
Trade Commissioner Maros Sefcovic said that the deal establishing a 15% tariff on most EU goods took effect with publication in the U.S. Federal Register instructing customs officials what to charge.
