'A deal is a deal' - European officials refuse to accept tariff chaos

• US Trade Representative Jamieson Greer states the US stands by existing trade deals and expects partners to do the same.
• The European Commission emphasizes that it will not accept any increase in US tariffs beyond agreed levels.
• ECB President Christine Lagarde stresses the critical need for clarity on future trade relationships to avoid business disruptions.
• Germany's Merz warns of the 'poison' of uncertainty for German industry and pledges a joint European position.
• French luxury and drinks stocks (LVMH, Hermes, Pernod Ricard, Remy Cointreau) saw gains as they are less affected by the ruling due to existing tariff exemptions.

European officials are reacting with caution and concern to the US Supreme Court's tariff ruling, calling for clarity and a united EU response. While some French luxury stocks saw gains due to existing exemptions, German industry warns of increased uncertainty, highlighting potential disruptions to trade and investment decisions.