US and EU Agree on 15% Tariff Deal, New Premium Credit Card Enters Market, China Delays US Trade Measures

The US and EU have reached an agreement on tariffs, with the EU facing a 15% tariff on most goods. China has bought more time, with the US delaying measures against the country for another 90 days. Thailand and Cambodia agreed to discuss ending their border clashes, while Japanese PM Shigeru Ishiba plans to stay in office despite growing calls for him to step down. Taiwan's opposition will keep its legislative majority after a vote rejecting attempts to recall lawmakers. Israel increased aid distribution to Gaza to defuse international outcry over hunger in the enclave. A new premium credit card, the Citi Strata Elite, has been launched, offering almost $1,500 in perks for cardholders.

The United States and European Union have reached a significant trade agreement, ending months of negotiations. The deal imposes a 15% tariff on most EU imports to the US, including automobiles, semiconductors, and pharmaceuticals. This agreement was finalized after high-stakes talks between President Donald Trump and European Commission President Ursula von der Leyen at Trump's golf resort in Scotland [1].

The 15% tariff is lower than the previously proposed 30% rate and the 50% tariffs on steel and aluminum that remain in place. The EU has committed to purchasing around $750 billion worth of American energy products, including liquefied natural gas (LNG), oil, and nuclear fuels, aiming to reduce Europe’s reliance on Russian energy. Additionally, the EU will invest an extra $600 billion in U.S. energy, defense, and military equipment beyond previous plans [1].

In a separate development, the US and China have agreed to extend their existing tariff truce by an additional 90 days, as negotiations in Stockholm continue. This pause, which was set to expire on July 9, slashed U.S. tariffs on Chinese goods from as high as 145% to 30%, while China reduced its levies on American imports from 125% to 10% [2].

These developments signal a de-escalation in transatlantic and sino-American trade tensions, providing temporary relief for businesses and consumers. However, the agreements also reflect compromises on both sides, balancing trade relations while maintaining higher tariffs on some sectors.

References:
[1] https://www.bbc.com/news/articles/cx2xylk3d07o
[2] https://eurasiabusinessnews.com/2025/07/27/trump-and-eu-reach-tariff-deal-avoiding-trade-war/