Workers assemble cars on the assembly line at a Volkswagen automobile factory on March 7, 2025, in Wolfsburg, Germany.
Sean Gallup | Getty Images News | Getty Images
Shares listed in Europe look set to open lower on Friday, as investors continue to assess the full scope of the European Union’s trade deal with America.
Futures tied to London’s FTSE 100 were last seen trading flat, while those tied to the German DAX were 0.3% lower and French CAC 40 futures were down by 0.2%.
Midway through Thursday’s trading session, officials announced in-depth details of the deal struck between Washington and Brussels late last month.
In an agreement reached last month, the EU said it would spend $750 billion on U.S. energy and invest a minimum of $600 billion in the United States — in exchange, blanket tariffs on its goods were set at 15% instead of the 30% rate threatened by U.S. President Donald Trump.
An update on Thursday confirmed those details, and revealed that pharmaceuticals exported from the EU to the U.S. will see tariffs capped at 15%. That alleviated some concerns, as U.S. President Donald Trump had previously threatened to slap the sector with tariffs as high as 250%.
Following a lackluster immediate reaction to the news, the Stoxx Europe Pharmaceuticals and Biotechnology index rose to close around 0.6% higher on Thursday.
Automotive stocks, meanwhile, closed in negative territory as market participants reacted to the “conditional” nature of lower tariffs on the sector. Officials revealed on Thursday that duties on European exports to the U.S. would not be slashed from current levels until Brussels lowers its own industrial duties.
In terms of economic data, European investors will be monitoring a French business confidence print, German gross domestic product figures, and GfK’s U.K. consumer confidence update, all being released on Friday.
