European companies are caught between relief and frustration over a new U.S. trade deal that imposes a 15% import tariff on most EU goods, higher than initial hopes of zero-for-zero agreement. The deal includes exemptions for certain products, like aircraft parts, semiconductor equipment, and some farm products. Car manufacturers face reduced tariffs, but concerns linger about competitiveness. Shares in Stellantis, Valeo, Merck KGaA, and ASML rose in response to the news.

Dutch brewer Heineken welcomes the certainty brought by the deal, as it sends beer to the U.S. from Europe and Mexico. Negotiations are ongoing for spirits tariffs, which could affect companies like Diageo, Pernod Ricard, and LVMH. There is hope for further negotiations on agricultural products for a zero-for-zero agreement in the coming days. Concerns remain about wine tariffs putting Europe at a disadvantage compared to regions with lower tariffs.

Industry leaders express relief over the clarity provided by the trade deal but worry about its impact on competitiveness. French cosmetics industry faces significant threats to its competitiveness due to the agreement. Italian wine body UIV predicts a loss of 317 million euros over the next year due to 15% tariffs on wine. The deal, following a similar one with Japan, has mixed implications for European firms.

Read more at Yahoo Finance: Europe Inc swerves Trump trade war ‘hurricane’ but laments higher tariffs