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EU-US trade deal imposes broad 15% tariff, below 30%

threat

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Deal helps temper trade uncertainty

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Aircraft parts, some chemicals, semiconductors among

exemptions

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Rate for spirits and wine still being negotiated

LONDON, July 28 (Reuters) - European companies were left

wondering on Monday whether to cheer a hard-won U.S. trade deal

or lament a still sharp jump in tariffs versus those in place

before President Donald Trump's second term.

A day earlier, European leaders heralded a framework trade

deal with the United States that would impose a 15% import

tariff on most EU goods, averting a spiralling battle between

two allies which account for almost a third of global trade.

Although the deal is better than the 30% rate threatened by

Trump and will bring clarity for European makers of cars, planes

and chemicals, the 15% baseline tariff is well above initial

hopes of a zero-for-zero agreement. It is also higher than the

U.S. import tariff rate last year of around 2.5%.

"Those who expect a hurricane are grateful for a storm,"

said Wolfgang Große Entrup, head of the German Chemical Industry

Association VCI, calling for more talks to reduce tariffs that

he said were "too high" for Europe's chemical industry.

"Further escalation has been avoided. Nevertheless, the

price is high for both sides. European exports are losing

competitiveness. U.S. customers are paying the tariffs."

The deal, which also includes $600 billion of EU investments

in the United States and $750 billion of EU purchases of U.S.

energy over Trump's second term, includes some exemptions, even

if details are still to be ironed out.

Carmakers Volkswagen and Stellantis ( STLA ),

among others, will face the 15% tariff, down from 25% under the

global levy imposed by Trump in April.

Stellantis ( STLA ) shares rose 3.5% and car parts maker Valeo

was up 4.7% in early trade. German pharma group Merck

KGaA gained 2.9%.

Aircraft and aircraft parts will be exempt - good news for

French planemaker Airbus - as will certain chemicals,

some generic drugs, semiconductor equipment, some farm products,

natural resources and critical raw materials.

Shares in the world's biggest chip maker ASML

rose more than 4%, among the biggest gainers on the pan-European

STOXX 600 index.

STILL TO BE NEGOTIATED

Dutch brewer Heineken cheered the deal, with CEO Dolf

van den Brink welcoming the certainty it brought.

The world's No.2 brewer sends beer, especially its namesake

lager, to the U.S. from Europe and Mexico, and has also suffered

from the indirect effect on consumer confidence in important

markets like Brazil.

The rate on spirits that could impact firms such as Diageo ( DEO )

, Pernod Ricard and LVMH, is still

being negotiated though.

"It seems that in coming days there could be negotiations

for certain agricultural products, zero for zero, which is what

the European and U.S. sectors have been calling for," said Jose

Luis Benitez, director of the Spanish Wine Federation.

Benitez added that a 15% rate could put Europe at a disadvantage

versus other wine exporting regions subject to 10% tariffs.

"If there are any exceptions, we hope that the (European)

Commission understands that wine should be one of them."

Lamberto Frescobaldi, the president of Italian wine body

UIV, said on Sunday that 15% tariffs on wine would result in a

loss of 317 million euros ($372.63 million) over the next 12

months, though the group was waiting to see the final deal text.

Others said that the agreement- which followed on the heels

of a similar one with Japan - helped bring greater clarity for

company leaders, but still threatened to make European firms

less competitive.

"While this agreement puts an end to uncertainty, it poses a

significant threat to the competitiveness of the French

cosmetics industry," said Emmanuel Guichard, secretary general

of French cosmetics association FEBEA, which counts L'Oreal

, LVMH and Clarins among its members.

($1 = 0.8507 euros)