Overview

• An EU–U.S. joint communiqué confirms a 15% tariff on many European goods, explicitly covering cars and pharmaceuticals and excluding any waiver for alcoholic beverages.
• The tariff cap will take effect once the EU adopts required domestic measures to lower its own duties, and EU negotiators cite U.S. assurances on retroactive application to August 1.
• French producers and trade bodies voiced sharp disappointment over the lack of relief for wines and spirits, warning of financial strain across Bordeaux, Champagne and Beaujolais exporters.
• U.S. importers report rising costs and expect retail price increases in coming months, with some saying supplier prices are already up 10% to 15% and highlighting the sector’s role in distribution jobs.
• The package includes EU pledges of $750 billion in U.S. energy purchases and $600 billion in additional investment, while EU and French officials stress that talks on targeted exemptions can continue.