15% tariff template? Last night, the market was buoyed by the Financial Times report that the US and EU are close to reaching a 15% tariff agreement. Small-cap stocks in the US reacted the most vigorously, followed by large-cap stocks, while the cryptocurrency market can only be said to have stopped falling. Unusually, this time it wasn't Trump who announced it first, which suggests that, as reported, the US and EU are close to an agreement, but it hasn't been fully finalized yet. The report stated that the EU accepted the 15% tariff but did not open its market to the US like Japan did (at least not significantly reducing import tariffs on the US), investing in the US, or purchasing US products, and there are also concerns about the digital services tax, which is a major issue for Trump. This is why the large-cap stocks in the US tech sector were heavily impacted, and the large-cap stocks did not react as enthusiastically as the small-cap stocks when the news broke. This is also why EU officials, while indicating that a 15% agreement is imminent, also mentioned that they are still preparing $100 billion in countermeasures. However, it seems that the 15% tariff will become a new standard in America's "negotiation package," replicating from Japan to the EU and then to other countries, forming a kind of "you invest in me, and I give you a discount" trading template.