The Trump administration formally implemented its trade agreement with the European Union on Wednesday, confirming that tariffs on EU autos and auto parts dropped to 15% from 25% effective August 1. The Federal Register notice also lists extensive exemptions covering aircraft and parts, generic pharmaceuticals, rare earths, and other key industrial materials. The move provides relief for European automakers that had delayed sourcing decisions pending confirmation. Shares in German carmakers rose on the news, with Porsche up 2.2%, BMW 1.4%, and Mercedes-Benz 1.1%. The exemptions align with Trump’s “reciprocal” tariff framework, which spares strategic imports such as cork, nickel, magnesium, and electronic components.