The European Union will likely have to wait a few more days for an executive order by U.S. President Donald Trump lowering tariffs on imports of European cars and car parts, a source familiar with the EU-U.

President Trump warned that if the European Union fails to deliver on its commitment to invest $600 billion in the US, then he will ramp up tariffs against the 27-nation bloc. Last month, Trump and the EU unveiled the sketches of a preliminary trade deal,

Japan agreed to a $550-billion "signing bonus," the president said, calling the funds "our money to invest as we like." Likewise, the EU has agreed to invest $600 billion into U.S. industry and purchase $750 billion in American energy,