U.S. tariff agreement sealed over the weekend has been described as a “dark day” for Europe and even a capitulation to American demands

The sharp increase in U.S. trade tariffs on the European Union will not trigger immediate sovereign rating cuts, but could compound existing pressures, Fitch and other agencies said on Tuesday, while Moody's warned of the effect on exporting firms.

Many pharmaceutical products made in Europe will face a 15 percent tariff, pinching manufacturers and potentially leading to higher drug prices.

The EU 15% tariff will raise prices on European consumer brands from luxury, autos, food and beauty. This could reduce demand and make US-based brands more competitive.

Dutch healthcare technology company Philips slashed its estimated tariff impacton Tuesday after the United States and the European Union agreed a trade dealthat imposes a 15% rate on most goods imported from Europe.

The 15 percent tariff rate agreed under the new deal could significantly impact pharma firms reliant on European imports.

U.S. trade deal averts a full-on trade war, but is still likely to crimp Europe's already weak economic growth. The region's export powerhouses—drug-pro

Explore the impact of the new EU-US trade deal with 15% tariffs, market reactions, and investor concerns over growth, energy, and key industries.