The European Union is expecting US President Donald Trump to announce executive actions this week to formalize the bloc’s lower tariffs for cars and grant exemptions from levies for some industrial goods such as aviation parts,

U.S. President Donald Trump's recent executive order only sets out his so-called "reciprocal" tariff for the EU at 15% and does not apply to cars and other agreed carve-outs, EU officials said on Friday,

"I think it's the biggest deal ever made," Trump said of the new agreement, which will reduce the bloc's tariff rate to 15 percent.