The European Union and the United States reached a new trade agreement on tariffs over the weekend, which is expected to result in only modest increases in the cost of cars and auto parts imported from EU countries, like Porsches and Alfa Romeos. Much like the deal signed with Japan last week, this agreement lowers the auto tariff to 15%, down from the anticipated 30% that was set to take effect after the August 1 “Liberation Day” deadline, when reciprocal tariffs were originally scheduled to be introduced.
