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

(Reuters) -Dutch healthcare technology company Philips on Tuesday lowered its estimated impact from import tariffs after the U.S. and the European Union agreed to the United States imposing a 15% rate on most EU goods.

Pharmaceutical companies are seeking clarification on tariffs imposed under the new US-EU trade agreement . Analysts caution that sector-specific punitive levies could jeopardise the entire deal, according to a CNBC report.