Europe Inc swerves Trump trade war 'hurricane' but laments higher tariffs

U.S.-EU Trade Deal Overview: A new trade deal between the U.S. and EU imposes a 15% import tariff on most EU goods, which is an improvement from the previously threatened 30%, but still higher than last year's 2.5% rate, raising concerns about European competitiveness.

Industry Reactions: While some sectors like automotive and pharmaceuticals see potential benefits, others, particularly in wine and cosmetics, fear significant financial losses due to the tariffs, with calls for further negotiations to achieve more favorable terms.