On July 27, local time, U.S. President Trump announced that the United States and the European Union have finalized a trade agreement, which includes the imposition of a 15% tariff on EU exports to the United States. According to Trump, the European Union has pledged to boost its investment in the United States by $600 billion, procure U.S. military equipment, and purchase $750 billion worth of energy products. The agreement maintains existing tariffs on steel and aluminum, while emphasizing energy as a critical component with significant ramifications for the automotive and agricultural sectors. Additionally, Trump mentioned that the United States will escalate investments in the semiconductor industry. The British Prime Minister welcomed the agreement, and U.S. Commerce Secretary Wilbur Ross stated that the tariff policy on semiconductors will be decided within the next two weeks.