Overview
- President Trump’s executive order outlines a path to reduce tariffs on EU cars and components to 15% but ties any cut to specific actions by the European Union and a Commerce Department finding.
- The order sets no dates for implementation and references potential refunds of duties already collected if reductions are later applied.
- Brussels casts the arrangement as a reciprocal exchange that would scrap many tariffs on U.S. industrial goods, though the package still needs approval by EU governments and the European Parliament.
- Italy’s trade agency (ICE) estimates a uniform 15% U.S. rate would add nearly €11 billion a year in duties on Italian exports, with machinery, electrical equipment, agri‑food, apparel and footwear most affected.
- Tensions have intensified after the European Commission fined Google about €2.95 billion, with Trump threatening a Section 301 action that could complicate or delay the tariff deal.