Commerce Secretary Howard Lutnick said the U.K. automakers will pay a 10% tariff on 100,000 cars sent to the U.S. rather than the 25% tariff for imported vehicles and car parts. It’s a tiny percentage of the U.

Commerce Secretary Howard Lutnick appeared to confirm reporting on​ Monday that a deal has been reached with automakers to​ ease tariffs, in another potential policy reversal that could grant a major reprieve for a beleaguered industry.

The sweeping trade tariffs announced by U.S. President Donald Trump would reduce economic growth in the Netherlands by a percentage point through 2026, Dutch economic policy adviser CPB said on Thursday.