In a move with major implications for the global automotive industry, the U.S. federal government has implemented a 15% import tariff on auto imports from the European Union. According to a federal register notice from September 24, the move affects cars as well as auto parts. That notice went on to indicate that the duties are also retroactive to August 1. The Move Follows a Protracted Negotiation The new tariff follows an August 21 announcement by the United States and the EU regarding a “Framework for an Agreement on Reciprocal, Fair and…
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