The Trump administration notifies the official implementation of the trade agreement with the EU

The government of US President Donald Trump published this Thursday an official notification on the implementation of the trade agreement with the European Union (EU) reached in July, a document that confirms that the 15% tariffs for imports of automobiles and auto parts are applied retroactively on August 1. The Department of Commerce published today in the Federal Register the formalization, which indicates that with respect to “the modifications of tariffs” applied “to automobiles and their components” will come into effect “as of August 1st”. Although the retroactivity of the tariffs was already agreed upon in August, major European car manufacturers have been awaiting the formal notice publication. The notice published today also specifies all EU products that have been exempted from tariffs, from aircraft and components to cork or generic medicines and their ingredients and precursors.

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The European Commission welcomed on Thursday the notification, which it said demonstrates that the Trump administration has “taken the necessary steps to meet the commitments of the framework agreement.”