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flag The U.S. started 15% tariffs on EU autos Aug. 1, lowering previous rates and easing trade tensions.

flag The U.S. began imposing 15% tariffs on EU automobiles and auto parts on August 1, as part of a trade agreement reached in July, with the Commerce Department and U.S. Trade Representative confirming the change. flag The rate is a reduction from the previous 25%, offering relief to the auto industry. flag Exemptions include aircraft, aircraft parts, generic pharmaceuticals and their ingredients, natural resources like cork, and certain metals and electronic components. flag The move, retroactive to August 1, follows an executive order allowing tariff reductions for countries that negotiate trade deals with the U.S. European automakers welcomed the decision, with their stocks rising, signaling market optimism.

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