Tariffs: 15% confirmed for the EU (but car tariffs go down). India clubbed with 50%

The new tariff regime between Brussels and Washington with a maximum rate of 15% for many overseas exports is confirmed. The EU commits to purchase a steady supply of artificial intelligence chips from the US of at least $40 billion. Positive surprise for the European automotive industry: tariffs dropped retroactively from 27.5% to 15% as of 1 August, saving carmakers over EUR 500 million. Sting instead on India, where Trump imposed a doubling of tariffs (from 25% to 50%) to 'punish' massive Russian energy purchases.