The U.S. and Europe finalize trade details: a 15% tariff on automobiles and semiconductors, and the EU will purchase $750 billion in energy products from the U.S.

Today (21st), the EU and the US announced the latest details of their trade framework, reaching an agreement on detailed tariff rates and conditions for wood, semiconductors, pharmaceuticals, and the automotive industry. (Previous context: Trump predicts steel and semiconductor tariffs will be announced as early as next week! Bitcoin falls below $118,000, Ethereum loses $4,600.) (Background: US policy nuclear bomb proposal: Suggests Trump use tariffs from other countries to "increase the position in Bitcoin," ensuring the greatness of the USA.) According to a report by CNBC, the EU and the US today (21st) announced the latest details of their trade framework, reaching an agreement on detailed tariff rates and conditions for wood, semiconductors, pharmaceuticals, and the automotive industry. This agreement was initially reached at the end of July after several weeks of intense negotiations, and now further clarifies the trade arrangements in several key industries. Agreement Background After long negotiations, the US and the EU finally reached a trade agreement at the end of July, establishing a unified 15% tariff on US goods imported from the EU and requiring the EU to purchase $750 billion worth of US energy products, as well as an additional investment of at least $600 billion in the US. At that time, many European political and business leaders believed the agreement was unfavorable to the EU, and some details were still unclear, especially regarding the tariff rates imposed by President Trump on specific industries. Now that specific details have been released, the relevant industry tariffs are as follows: Wood, Semiconductors, and Pharmaceuticals According to the agreement, starting September 1, the so-called Section 232 tariffs are capped at 15%, with the US imposing a maximum 15% tariff on wood, semiconductors, and pharmaceutical products from the EU, which is significantly lower than the 100% semiconductor tariff and 250% pharmaceutical tariff previously threatened by Trump. Senior US officials stated that these tariffs are intended to balance trade deficits and promote the development of domestic manufacturing in the US. Especially in the pharmaceutical sector, the EU, as the largest source of pharmaceutical imports for the US, has a tariff cap of 15%, which will not be compounded with other EU-wide tariffs. Automotive Industry The automotive industry is also one of the focal points of this agreement. The US and the EU agreed to impose a conditional 15% tariff on automobiles and auto parts exported from Europe to the US, nearly halving the current 27.5% tariff and lower than the 30% tariff previously threatened by Trump. The condition is that the EU must introduce legislation to reduce industrial tariffs, but only a legislative proposal is needed to initiate this trade exchange. Both sides also stated that they would mutually recognize each other's automotive standards to facilitate trade. However, the German Automobile Industry Association (VDA) warned that despite the tariff reduction, the 15% tariff will still impose billions of dollars in annual costs on the German automotive industry, presenting significant challenges for industry transformation. Other Key Contents Meanwhile, the agreement also includes the EU's commitment to eliminate all tariffs on US industrial products and provide market access channels for US seafood and agricultural products. In addition, the EU plans to significantly increase procurement of US military and defense equipment and invest in areas such as artificial intelligence chips and energy, but these commitments are described as "expected" rather than mandatory, thus possibly facing uncertainty in execution. Impact and Outlook This trade agreement provides more certainty for US-EU bilateral trade, reducing the risk of a comprehensive trade war. However, some economists also pointed out that the average tariffs imposed by the US on EU goods remain high through 2024 and will still negatively impact EU economic growth. For US consumers, tariffs may lead to rising prices for imported goods, affecting corporate profits and increasing consumer burdens. In the global trade environment, other trade partners are still negotiating similar trade agreements with the US, and the details of the US-EU agreement may provide effective references for these negotiations, highlighting significant changes facing global trade rules. Related Reports US July PPI explodes》Bitcoin Long Wick Candle $117,000, Trump's tariffs sound the inflation alarm, will the Federal Reserve lower interest rates in September? US July CPI report released "Prices hit a new high in June", Trump pressures Powell: Tariffs did not exacerbate inflation, Fed must lower interest rates in September. The US-China tariff war affects》Bitcoin Mining Rig CleanSpark faces $185 million in tariffs due to imported BTC Mining Rig〈US-EU finalize trade details: 15% tariffs on cars and semiconductors, EU to purchase $750 billion in US energy products〉This article was first published in BlockTempo "BlockTrend - The Most Influential Blockchain News Media."