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U.S. Allies Still Await Tariff Relief on Autos and Steel Amid Trade Deal Uncertainties

by Team Lumida
August 20, 2025
in Markets
Reading Time: 4 mins read
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Key Takeaways

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  • Despite investment pledges and promises to buy more U.S. goods, key U.S. allies in Asia and Europe have yet to see promised tariff reductions on autos, steel, and aluminum.
  • Japan and South Korea expected a cut from 25% to 15% on auto tariffs, but the higher levy remains, causing significant losses for major carmakers like Toyota.
  • The U.K. is also waiting for steel tariff relief, with ongoing negotiations over which exports qualify.
  • The U.S. administration has not made firm commitments to remove Section 232 tariffs, citing national security concerns, leading to business uncertainty.
  • Trump’s trade approach favors quick, handshake-style agreements over detailed, legally binding treaties, creating ambiguity and delays in implementation.
  • Allies are wary of formal agreements due to concerns over Trump’s commitment and potential bureaucratic delays.
  • Discrepancies have emerged between U.S. announcements and allies’ understanding of deal terms, such as South Korea’s denial of promised rice market access.
  • Investment pledges, including a $350 billion South Korea fund controlled by the U.S., have sparked pushback from allies seeking commercial viability and shared control.
  • The EU continues to push for written, though non-binding, commitments and awaits tariff relief on autos and steel.

What’s Happening?

Trump’s rapid-fire trade deals with allies have yet to translate into concrete tariff relief, with key levies on autos and steel still in place. The administration’s preference for informal agreements over traditional trade treaties has led to confusion, delays, and disputes over deal terms. Allies face uncertainty as they await clarity and implementation.

Why Does It Matter?

Tariffs on autos and steel significantly impact global supply chains and the profitability of major manufacturers. Delays in tariff relief increase costs for companies and consumers, potentially slowing economic recovery and investment. The lack of clear, enforceable agreements undermines confidence in U.S. trade policy and complicates international relations.

What’s Next?

The U.S. administration plans to finalize deal documents “in weeks,” but the president retains discretion to adjust tariffs if commitments are not met. Allies will continue negotiations and push for clearer terms. Monitoring tariff enforcement and investment fund management will be critical to assessing the durability of these trade pacts.

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Lumida's website (referred to herein as the "Website") is limited to the dissemination of general information pertaining to its advisory services, together with access to additional investment-related information, publications, and links. Accordingly, the publication of the Website on the Internet should not be construed by any client and/or prospective client Lumida’s solicitation to effect, or attempt to effect transactions in securities, or the rendering of personalized investment advice for compensation, over the Internet.

Any subsequent, direct communication by Lumida with a prospective client will be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides.

‍Lead Capture Forms: By submitting your contact information in the forms on this site, you are not obligated to invest in Lumida's product or services.
‍Address: Lumida Wealth Management, 25 W 39th Street Suite 700, New York, NY 10018