European distillers buoyed by EU efforts to seek tariff exemption

European Spirits Market Reaction: Shares of European wine and spirits companies rose due to the EU's efforts to negotiate exemptions from U.S. trade tariffs, with notable increases for Remy Cointreau, Pernod Ricard, and Davide Campari-Milano.

Trade Negotiations Context: The EU is seeking a 10% tariff cap on exports to the U.S. as part of ongoing negotiations, while a failure to reach an agreement by August 1 could result in a 50% tariff on imports from EU nations, prompting potential retaliatory measures from the EU.