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.

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

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.