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Economist Weekly Market View
- The weekend breakthrough in trade talks between the EU and US provided a fillip to markets early in the trading week, but the details of the agreement are scant, and key areas are yet to be determined - notably pharmaceuticals.
- A baseline 15% tariff has been agreed on EU exports to the US, with no additional tariffs from the EU on US products.
- There are conflicting media reports on pharmaceuticals, with some suggesting 15% would apply immediately, while others suggest a carve out below that rate for some areas.
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