There’s still much more to come from the White House on tariffs, but the European Union has now reached a trade agreement with the U.S.

Starting Sept. 1, the U.S. will impose a “Most Favored Nation” (MFN) tariff rate on generic pharmaceuticals sourced from the EU, including their ingredients and chemical precursors, according to a White House fact sheet issued Thursday.

Details of a US-EU trade deal published Thursday showed Brussels secured a tariff reduction for cars exported to the United States but failed to win a reprieve for its cherished wine sector.US President Donald Trump and EU Commission President Ursula von der Leyen clinched a framework accord in July for most EU exports to face a 15-percent US levy.

Trump has threatened the EU with tariffs to buy American oil and gas, and part of the major July trade deal required the EU to purchase $750 billion in American energy by 2028.

President Trump’s tariffs could raise the cost of some of the most popular imports in American grocery aisles, from coffee and olive oil to wine, matcha and spices. After the “Liberation Day” tariffs kicked in worldwide in early August,

Winemakers across Europe face fresh uncertainty after the US refused to grant special treatment for wine and spirits in a trade deal with the EU announced on Thursday. While German carmakers have secured a better outcome,

Anuj Jain of Green Portfolio PMS believes Trump's tariffs will have minimal impact on India's economy. He emphasises the importance of staying invested in high-quality businesses and expects the Nifty 50 to show healthy gains by 2025.