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

Pharma firms are calling for clarity on tariffs imposed under the new U.S.-EU trade agreement, as analysts warn that punitive sector-specific levies could risk blowing up the entire deal. Ambiguity abounds around the terms for pharmaceutical goods under the trade truce agreed Sunday, which imposes 15% tariffs on EU goods imported to the U.S.

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

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

The United States and the European Union reached a tariff deal Sunday after a brief meeting between President Donald Trump and European Commission chief Ursula von der Leyen.

German auto companies embraced greater clarity but warned that even the lower rate of tariffs agreed between Brussels and Washington would still hurt.

The 15% rate is higher than the current 10% tariff rate on European luxury goods. Investors may have wanted better terms for the sector.

Treasury Secretary Scott Bessent joins 'Power Lunch' to discuss the possibility of Trump and Xi Jinping meeting, Chinese purchases of Iranian oil and much more.