German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

A new 15% tariff goes into effect on imports to the U.S. from the European Union starting Friday. Last year, those same goods were taxed at about 1.2%. Former Rep. Max Rose, Staff Writer at The Atlantic Ashley Parker and Mark McKinnon,

A provisional deal between the United States and European Union to exempt aircraft from tariffs avoids a potential threat to jet production and deliveries in both regions and caps months of uncharacteristic unity among plane-making rivals.

President Donald Trump said on Monday most trading partners that do not negotiate separate trade deals would soon face tariffs of 15% to 20% on their exports to the United States, well above the broad 10% tariff he imposed in April.