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US-EU Trade Deal Caps Tariffs at 15%, Cuts 25% Auto Duty

6/29/2026

Summary

Story summary

Council adopted an agreement, capping U.S. tariffs at 15 percent and cancelling the 25 percent auto duty.
U.S. must keep tariffs on European goods at below 15 percent through Dec 31 2029.
EU will drop tariffs on U.S. products and grant seafood, agriculture and lobster access until July 2030.
Brussels can suspend preferences if United States does not align steel/aluminum duties with 15 percent ceiling by Dec 31 2026.
European Parliament ratified deal on June 16 by a 440-151 vote.

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Story summary

Council adopted an agreement, capping U.S. tariffs at 15 percent and cancelling the 25 percent auto duty.
U.S. must keep tariffs on European goods at below 15 percent through Dec 31 2029.
EU will drop tariffs on U.S. products and grant seafood, agriculture and lobster access until July 2030.
Brussels can suspend preferences if United States does not align steel/aluminum duties with 15 percent ceiling by Dec 31 2026.
European Parliament ratified deal on June 16 by a 440-151 vote.