The EU side of the 15% tariff deal with Washington took effect on July 1

The tariff arrangement between the European Union and the United States began operating on 1 July. We worked from the Commission's own account of it. On the EU side, all duties on imports of US industrial goods were eliminated, and market access was widened for certain non-sensitive agri-food products. The Commission puts the saving to EU importers and consumers at around 5 billion euros a year. On the US side, the deal sets a single all-inclusive rate of 15% across most sectors, including cars, semiconductors, pharmaceuticals and lumber, described as a ceiling rather than a floor, so it does not stack on top of most-favoured-nation duties. Sectors already facing MFN rates at or above 15% take no additional duty. Autos moved to 15% from 27.5%. The Council adopted the implementing regulations on 25 June. Steel and aluminium sit outside the arrangement, still at 50% under Section 232. That exception is a large one.