I don't have access to Tarski's exposition, but the following arguments (see Sections 1-3 below) are all made in the same 'playground' that Tarski developed his theory.
I have no doubt that Tarski's definition of multiplication of the reals depends on using the Eudoxus Theory of Proportion (see this). The Eudoxus theory can be used to show that any two endomorphisms on the additive group of positive real numbers under addition commute (under functional composition), and that is crucial to defining multiplication with endomorphisms in our sketched-out theory.
Here is Definition 5 of Euclid's Book V:
Magnitudes are said to be in the same ratio, the first to the second and the third to the fourth when, if any equimultiples whatever be taken of the first and third, and any equimultiples whatever of the second and fourth, the former equimultiples alike exceed, are alike equal to, or alike fall short of, the latter equimultiples respectively taken in corresponding order.
Also from the wikipedia link,
The Eudoxian definition of proportionality uses the quantifier, "for every ..." to harness the infinite and the infinitesimal, just as do the modern epsilon-delta definitions of limit and continuity.
I can't say exactly how Tarksi defines multiplication, but I'm about 99% confident in the following:
There is one and only one binary operation of multiplication defined over $(\Bbb R, 0, 1, +, \le )$ satisfying
$\quad$ $1 \times 1 = 1$
$\quad$ Multiplication is a commutative and associative operation
$\quad$ Multiplication distributes over addition
$\quad$ If $0 \lt a \lt b$ and $c \gt 0$ then $0 \lt ca \lt cb$
Section 1
With Tarski's axioms we start with
$$ (\Bbb R, 0, 1, +, \le ) \quad \text{ the additive group of numbers on the line (extending in both directions)}$$
There is no multiplication but $1 \gt 0$ is selected as the unit of measure.
The ancient Greeks, Eudoxus/Euclid/et.al, worked with $(\Bbb R^{>0},1,+)$ as a system of magnitudes. In the next section, we state three theorems, using modern mathematical terminology, where some of their logic is employed. Theorem 3 is an immediate consequence of the first two theorems.
In the last section we use this theory to define multiplication on $\Bbb R$, by again stating theorems without proof.
Section 2
Theorem 1: Every endomorphism $\phi: \Bbb R^{>0} \to \Bbb R^{>0}$ is completely determined by knowing the image under $\phi$ of $1$. Each of these endomorphisms,
$$\tag 1 \phi_m:1 \mapsto m$$
is a bijective transformation, and so, the inverse ${\phi_m}^{-1}$ can also be recast into a $\text{(1)}$ representation. Finally, to any $m \in \Bbb R^{>0}$ there corresponds a $\text{(1)-form }\phi_m$.
This group is denoted by $\mathcal G$.
Theorem 2: The group $(\mathcal G, \circ)$ is commutative.
Theorem 3: Corresponding to any choice of $1 \in (\Bbb R^{>0},+)$ the group $\mathcal G$ of endomrophisms can be put in a bijectice correspondence with $\Bbb R^{>0}$. In this way a commutative binary operation,
$$\tag 2 x \times y = [\phi_x \circ \phi_y]\, (1) = \phi_x(y) = \phi_y(x)$$
call it multiplication of $x$ with $y$, $xy$, can be defined on $\Bbb R^{>0}$. This operation distributes over addition
$$\tag 3 x(y+z) = xy + xz$$
has a multiplicative identity
$$\tag 4 1x = x1 = x$$
and associated with every $x \in \Bbb R^{>0}$ is a number unique $y \in \Bbb R^{>0}$ such that
$$\tag 5 xy = yx = 1$$
Recall that we can write $y = x^{-1}$ or $x = y^{-1}$ when $\text{(4)}$ is true.
Section 3
Proposition 4: Every endomorphism $\phi_m$ in $(\Bbb R^{>0},1,+)$ has one and only one extension to a (bijective) endomorhism on the abelian group $(\Bbb R,0,1,+)$. The collection $\mathcal P$ of these transformations forms a commutative group isomorphic to $\mathcal G$.
Recall that we have the inversion endomorphism $\gamma: x \mapsto -x$ defined on the commutative group $(\Bbb R,0,1,+)$.
Proposition 5: The inversion mapping $\gamma$ commutes with every endomorphism in $\mathcal P$.
Recall that we have the constant trivial endomorphism $\psi_0: x \mapsto 0$ defined on $(\Bbb R,0,1,+)$; it commutes with every other endomorphism on $(\Bbb R,0,1,+)$, and in particular every morphism in $\mathcal P$.
Proposition 6: The expression
$$\tag 6 \mathcal A = \mathcal P \cup \{\gamma \circ \phi_m \, | \, \phi_m \in \mathcal P \} \cup \{\psi_0\}$$
represents a disjoint union of endomorphisms on $(\Bbb R,1,+)$.
Proposition 7: The set $\mathcal A$ is closed under the operation of functional composition and this operation is commutative. Every endomorphism $\phi: \Bbb R \to \Bbb R$ belonging $\mathcal A$ is completely determined by knowing the image under $\phi$ of $1$. Except for the trivial $0\text{-endomorphism}$, each of these these mappings,
$$\tag 7 \phi_m:1 \mapsto m$$
is a bijective transformation with its inverse also belonging to $(\mathcal A,\circ)$.
Finally, to any $m \in \Bbb R$ there corresponds a $\text{(7)-form }\phi_m$.
So the trivial endomorphism $\psi_0$ on $\Bbb R$ can be written as $\phi_0$ and we can also write
$$\tag 8 \mathcal A = \{ \phi_m \, | \, m \in \Bbb R\}$$
Theorem 8: The structure $(\Bbb R,0,1,+)$ can be put into a $1:1$ correspondence with $\mathcal A$. In this way a second binary operation, multiplication, can be defined over $(\Bbb R,0,1,+)$. The new algebraic structure, $(\Bbb R,0,1,+,\times)$, forms a field.
Note: An outline for some of the above theory can be found in this article,
$\quad$ Translating Tarski's Axiomatization/Logic of $\mathbb R$ to the Theory of Magnitudes