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US President Donald Trump speaks during a multilateral meeting with European leaders in the eastern room of the White House in Washington, Colombia County, Monday, August 18, 2025.
Aaron Schwartz/CNP/Bloomberg via Getty Images
The United States and the European Union provided some desperate clarity to the enterprises as they shared fresh details about their trading agreement on Thursday, but there are questions about whether it is really trusted.
On Thursday update Overall, the frame announced by the United States and the EU in July, which provided for 15% tariffs, as well as Brussels’ promises to strengthen the costs and investments in the US, new details include a limit of 15% tariffs for pharmaceuticals, lumber and semiconductor. Cars will face the same speed, but only after the EU makes changes to the legislation to reduce its industrial duties.
However, EU Trade Commissioner Moros Sefkovich suggested that the frame was just the beginning, leaving the door open to future changes.
Missing details
Despite the provision of some so much clarity, there are still different, but important aspects that are absent from the current framework.
The muted reaction to the market with pharmaceuticals on Thursday emphasized the investor skepticism, and in this agreement there was no mention of the wine and alcohol sector.
“A lot of details remain developed,” said Penny Naas, which leads to the strategic competitiveness of the German Marshall Fund, said CNBC, pointing out, for example, the so-called “Rules of Origin”.
“These rules determine where the value is most added to a product containing several parts from different countries, and if it can be indicated” European “or” American “,” she explained. Naas noted that these rules come into the game when it comes to the transition
Karsten Brzeska, the Global Macros Ing, who has noted the uncertainty, “resulting from formalities and procedures on customs affairs”, which, he said, especially affect small and medium -sized enterprises.
Some companies are already faced with problems in this regard, and firms must “recruit tariff professionals to clarify new customs requirements,” he said.
Trump overcomes
Another problem is US President Donald Trump’s story Changes of the heart and policies concerning factsSaid CNBC Antonio Fataz, Professor of Economics of the European Institute of Business Administration (INSEAD).
For example, the president doubled the steel steel tariffs Over the night and later quiet expanded Their volume.
Elsewhere, Switzerland has fallen victim to the incorrect decision -making, and the country was reportedly close to the deal, which, however, was raised by Trump when he almost pulled 39%during the night.
“The real question for business is how to determine a long-term strategy with a country that is no longer a reliable partner,” Fataz said. “The fact that he used to be the most reliable partner in Europe became one of the most changing, if not the worst when it comes to economic policy,” he added.
The Marshall German Foundation also marked it as a risk to business.
“This transaction does not include any implementation provisions, and it will not be codified by Congress, which means that it can change in the US president,” she said.
As an example, NAAS pointed to tariffs for Section 232, and Trump changed tariff rates to some products “at the moment, and the administration expanded the volume of other products without warning.”
Trust or not trust?
Thus, the company remains a key question: trust or not trust the deal.
While the statement on Thursday adds a certain clarity, the transaction “remains gentle and can quickly dissolve,” the Ing BRZSK said after the announcement. “The agreement contains numerous elements that can cause future tension and escalation. The introduction, monitoring and fulfillment of many intentions are not always clear,” he added.
Naas repeated calls for caution. While the US-EU agreement appears “more likely to be stable” than some other Trump’s tariff policies, such as branch duties, it will “require EU to remain” good behavior “or risk a sudden change,” she said.
In addition to uncertainty about the US-EU transaction stability, businesses are also fighting issues concerning different global shifts in the market, according to Gregor Hirt, Chief Investment CEO in Allianz Global Investors.
He said that CNBC businesses face several key questions: “Does the US go to recession or worse, stagflation, and how persistent the companies’ margins will be in a similar environment, especially given the high market estimate in the US?
“Finally, how will a deviation from the liberalization and institutionalization of global trade and institutionalization will affect long -term investment strategies and supply chains?” Hirt said, adding that these problems associated with the tariff are also key to the ability of companies to plan in modern conditions.
