New Delhi, June 27 -- BRUSSELS - European carmakers, pharmaceutical exporters, and semiconductor companies got concrete certainty on Thursday when the EU Council formally enacted the Turnberry Agreement, adopting two regulations that lock in a 15 percent ceiling on United States tariffs for their products and eliminating the threat of 25 percent auto duties that the Trump administration had set against a July 4 horizon.

The Council's adoption completes the final step in a months-long ratification process. The two regulations formally commit the European Union to eliminating tariffs on US industrial goods and opening preferential market access for American seafood and agricultural products. Washington, in return, is bound to a 15 percent ...