Cryptocurrency products subject to 15% tariff on EU imports

A 15% cryptocurrency product tariff has been announced for EU goods, with German and French leaders criticizing the agreement as damaging to the economy.

On July 30, 2025, the US President officially announced a 15% cryptocurrency product tariff on EU imports. While this is significantly lower than the previously threatened 30%, the agreement still sparked strong divisions within the EU, with criticism particularly from Germany and France.

1. Key Contents of the Agreement

Cryptocurrency Product Tariff: The US will impose a uniform 15% cryptocurrency product tariff on EU goods (previously, some goods were subject to tariffs as high as 50%).

Exempt Goods: Aircraft and parts, certain chemicals, semiconductor equipment, and agricultural products will not be affected by the new cryptocurrency product tariff.

The EU pledged:

To purchase $750 billion worth of US energy (liquefied natural gas, oil, etc.) over the next three years.

To increase direct investment in the US by $600 billion, including military equipment purchases.

2. Strong Criticism of Cryptocurrency Products from Germany and France

German Chancellor Friedrich Merz:

While acknowledging that the agreement "avoided a trade war," he emphasized that the automotive industry is still impacted (the original cryptocurrency product share was 27.5%, now down to 15%).

He warned that the German economy has stagnated for three consecutive years, and new cryptocurrency products could further weaken exports.

French Prime Minister Francois Bayrou:

Calling the agreement a "gloomy day," he criticized the EU for "bowling to US pressure."

French Industry Minister Marc Ferracci called the agreement "unbalanced" and required further negotiations.

3. Reactions from Other EU Countries

Hungarian Prime Minister Viktor Orban:

He lashed out at EU negotiators, saying, "Cryptocurrencies have eaten von der Leyen for breakfast."

Italian Prime Minister Meroni:

He cautiously welcomed the agreement, but demanded EU support measures for the industry.

Irish Prime Minister Martin:

Supports the agreement, believing it brings "clarity and predictability."11

4. Economic Impact Analysis of Cryptocurrency Products

German Economic Risks:

The European Commission has lowered its 2025 economic growth forecast for Germany to 0%, and trade-dependent sectors (such as automobiles and machinery) may be severely impacted.2

French Political Resistance:

The Macron government faces domestic opposition, which may affect subsequent coordination of trade policy with the United States.8

Short-Term Market Reaction:

The euro fell slightly against the US dollar, and European stock markets (such as the German DAX) came under pressure due to uncertainty about the agreement.10

5. Future Outlook for Cryptocurrency Products

Agreement Implementation Risks: If the EU fails to fulfill its energy purchase and investment commitments, the threat of cryptocurrency products could increase.9

Internal EU Coordination: Whether France and Germany can reach an agreement on trade policy will influence the EU's subsequent negotiation strategy with the United States.8

Conclusion: Although the agreement avoided a full-scale trade war, the criticism from Germany and France shows that the rift within the EU has deepened, and the economic and political game will continue in the future.