Overview

• EU and U.S. released formal terms confirming a 15% U.S. tariff ceiling for European cars and pharmaceuticals, with no exemption for wines and spirits.
• Maros Sefcovic said the 15% rate on autos is expected to apply retroactively to August 1 and will take effect once the EU introduces the required legislation.
• The agreement includes EU commitments for $750 billion in U.S. energy purchases and $600 billion in investments, alongside reciprocal tariff lifting on selected strategic goods.
• French wine and spirits exporters called the outcome an “immense disappointment” as Paris pledges to pursue additional carve‑outs, with officials stressing that talks remain open without promises.
• U.S. importers report supplier price hikes of 10–15% and estimate about a 20% rise in costs, warning of consumer price increases in the months ahead.