15% Tariff! Latest Announcement from the U.S.!

　　On August 21 local time, the White House issued a joint statement with the European Union (EU), announcing that the U.S. and the EU have reached an agreement on the framework of a trade deal. The U.S. will impose a uniform 15% tariff on most EU imports, including automobiles, pharmaceuticals, semiconductors, and timber.

　　In exchange, the EU has committed to eliminating all tariffs on U.S. industrial goods. It also plans to purchase $750 billion worth of U.S. liquefied natural gas (LNG), oil, and nuclear energy products, and an additional $40 billion worth of U.S.-made artificial intelligence chips.

　　Analysts pointed out that this framework agreement will reshape the tariff landscape between the U.S. and Europe. The finalized joint statement paves the way for reducing European auto tariffs and resolving other trade frictions within weeks.

　　According to CCTV News, on August 21 local time, the White House issued a joint statement with the EU, stating that the U.S. and the EU have reached an agreement on the framework of a trade deal. The EU subsequently issued the joint statement as well.

　　Based on the statement released by the White House, the framework of this trade agreement between the U.S. and the EU includes 19 key points, covering agricultural products, industrial goods such as automobiles and aircraft, semiconductor chips, energy, EU investment in the U.S., relaxation of environmental protection regulations, cybersecurity agreements, digital trade barriers, and more.

　　The statement clarifies that the U.S. commits to applying the higher of the following two tariff rates to goods originating from the EU: the U.S. Most Favored Nation (MFN) tariff rate or a 15% tariff rate composed of MFN tariffs and reciprocal tariffs. Additionally, starting September 1, 2025, the U.S. commits to applying only MFN tariffs to the following EU products: non-renewable natural resources (including softwood lumber), all aircraft and aircraft parts, generic pharmaceuticals and their raw materials and chemical precursors. The U.S. and the EU have agreed to consider other sectors and products important to their respective economies and value chains for inclusion in the list of products subject only to MFN tariffs.

　　Furthermore, the细则 stipulates that the U.S. will impose a tariff rate of no more than 15% on most EU goods, covering automobiles, pharmaceuticals, semiconductor chips, and timber.

　　For European automakers, this agreement framework provides a clear prospect of relief from heavy tariff burdens. The current U.S. tariff rate of up to 27.5% on automobiles and auto parts has long been seen as a significant source of pressure on the industry. He stated, "As long as they can introduce relevant legislation—I don’t mean fully passing and implementing it, but formally initiating the legislative process—we will be able to provide tariff relief at that time."