The United States and the European Union reached a trade agreement

On July 27, local time, US President Trump said that the United States has reached a trade agreement with the European Union, imposing a 15% tariff on EU goods exported to the United States. Trump said that the EU will increase its investment in the United States by $600 billion compared with the previous period, the EU will purchase US military equipment, and will purchase US energy products worth $750 billion. Trump said that the tariffs on steel and aluminum will remain the same. Energy is a key part of this agreement. The agreement will benefit the automotive industry and will also have a significant impact on agriculture. The United States will invest a lot of energy in the chip field. The British Prime Minister is happy about this agreement.

US Commerce Secretary Lutnick said that the United States will determine the tariff policy on chips within two weeks.

Trump said that the United States is considering reaching an agreement with three to four other countries. Most agreements will involve certain tariffs. The United States will maintain low tariffs on other countries. Countries will receive clarification or confirmation letters in the next week. The confirmation tariff letter will be issued before August 1.

European Commission President von der Leyen said that the EU and the United States have agreed to implement a unified 15% tariff rate, and all kinds of goods including automobiles will be subject to this tariff standard. Von der Leyen said these trade deals with the United States would bring stability to the markets.