News Summary

• The U.S. will reduce tariffs on European autos and auto parts to 15 percent, down from the previous 27.5 percent.
• The deal opens the door to discounted rates on steel, aluminum, and derivative products under a quota system.
• This marks a departure from the administration's earlier stance to maintain 50 percent tariffs on metals.
• The EU pledged not to impose network usage fees and will explore easing compliance burdens tied to its carbon import levy and sustainability reporting rules.
• These changes could benefit small- and medium-sized American businesses navigating EU regulations.