A threatened 30% tariff on European wines would hurt many U.S. companies while hiking prices at home and in restaurants, industry experts warn.

The 15% tariff would be lower than previously threatened, but it would remain a high duty on America’s largest trading partner.

BRUSSELS - The tariff-and-spending accord announced Sunday by the United States and the European Union stands to avert a damaging trade war between two of the world’s largest economies, but it is lopsided in favor of President Donald Trump’s protectionist policies,

European Commission President Ursula von der Leyen said Sunday that a framework deal imposing 15% tariffs on EU goods imported to the U.S. did not contain any decision regarding the wine and spirits industry, adding that an agreement for the sector would be examined in the coming weeks.

As Trump eyes an Aug. 1 deadline for countries to come to trade deals or face the tariffs that he originally announced in April, he has touted the agreements he has made in recent days — while maintaining that it would be difficult to meet with all world leaders.

U.S. agreement, secured by President Donald Trump in Scotland, imposes a 15% tariff on most European goods but does not outline a tariff for the wine and spirits industry.

European goods entering the US will face a 15% tariff following an agreement between President Trump and European Commission President Ursula von der Leyen. While the deal avoids a harsher 30% tariff,

U.S. President Donald Trump will make his trade deal decisions this week even as separate negotiations with China and the European Union continue, U.S. Commerce chief Howard Lutnick said on Tuesday ahead of Trump's self-imposed Aug.