PANews reported on August 21st that according to Jinshi Data, the European Union and the United States reached an agreement on a joint statement on a trade agreement. The EU plans to purchase US$750 billion worth of US liquefied natural gas, oil, and nuclear energy products, as well as at least US$40 billion worth of US artificial intelligence chips.

In return, the United States will reduce its auto tariffs on EU vehicles to 15% after the EU eases its tariffs on US goods. US officials said the tariff reduction could take effect within weeks.