Overview
- U.S. Trade Representative Jamieson Greer said Monday that Washington will proceed with raising tariffs on EU cars and trucks to 25%, and Reuters noted no formal order had been posted by early afternoon.
- The European Commission rejected claims it is breaking the deal and said it is keeping options open as EU lawmakers and member states push to finish the Turnberry implementing law.
- EU trade chief Maroš Šefčovič is meeting Greer in Paris on Tuesday, while French officials indicated the G7 trade gathering will not formally take up the tariff fight.
- European auto shares fell following Friday’s announcement by President Trump, and Volkswagen said U.S. tariffs are already cutting its annual earnings by €4 billion, a strain that could lead to higher prices or more production moved to the U.S.
- The Turnberry agreement set a 15% U.S. cap on EU auto tariffs in exchange for EU duty cuts on U.S. industrial goods, and the administration now plans to rely on Section 232 national‑security authority as it argues Europe has not moved fast enough.