A senior EU trade official said on Aug 5 that under the new U.S.-EU trade deal, a broad 15% tariff applies to all EU exports – including cars and auto parts – with no quotas or exceptions. Crucially, this tariff deal explicitly excludes steel and aluminium: separate quota arrangements are being worked out for those sectors. In practice, EU steelmakers will instead receive tariff-rate quotas (with minimal or zero duties up to set volumes) to replace the 50% tariffs imposed under Donald Trump. Talks on the final agreement text are “very advanced” and waiting on the U.S. response; the EU hopes to finalize it soon. The official noted that both sides see joint action on steel as a priority, aiming to prevent subsidised Chinese steel from distorting markets.