Published by Global Banking & Finance Review®
Posted on August 12, 2025
2 min readLast updated: January 22, 2026
Add as preferred source on GoogleThe EU is waiting for the US to act on trade deal promises, including tariff reductions and executive orders on car imports.
By Julia Payne
BRUSSELS (Reuters) -The European Union could not say when a joint statement on tariffs with the United States would be ready, nor when the White House would issue an executive order on European car import duties, a spokesperson said on Tuesday.
The EU and U.S. reached a framework trade agreement at the end of July but only the 15% baseline tariff on European exports had so far come into effect, as of last week. EU officials previously said a joint statement would follow the deal "very soon" along with executive orders from U.S. President Donald Trump on key carve-outs.
"It is an agreement that we believe is strong and the best we could have ... Of course, we expect the U.S. to take further steps that are part of this agreement but I don't believe at this stage we can put a timeline on these engagements," the European Commission spokesperson said.
The carve-outs include a reduction of the current 27.5% U.S. import tariff on EU cars and car parts to 15%. While duties on pharmaceuticals and semiconductors are currently zero, if they rise as a result of a U.S. probe into imports of those products, Trump assured these would not exceed the 15% ceiling.
As part of the deal, the EU and U.S. are still finalising a list of products where tariffs would go down to zero on both sides, such as on aircraft, while other products would revert to a much lower most-favoured-nation rate. Separately, negotiations on rates for spirits and wine are expected to drag into the autumn.
Europe still faces tariffs of 50% on steel and aluminium exports to the U.S. but the two sides have agreed to set a quota system and a "metals alliance" that would later lower duties. In the interim, however, EU smelters are under pressure as U.S. tariffs have led to a surge in exports of their main input, scrap metal.
(Reporting by Julia Payne; Editing by Andrew Heavens and Rachna Uppal)
A joint statement is a formal declaration made by two or more parties, typically outlining mutual agreements or commitments on specific issues.
A quota system is a regulatory mechanism that limits the amount of a specific product that can be imported or exported during a given time period.
Carve-outs are specific exceptions or exclusions within a trade agreement that allow certain products or sectors to be treated differently from the general terms.
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