European governments and companies expressed mixed reactions following the announcement of a framework trade deal between the United States and the European Union. While the agreement, struck under US President Donald Trump, was welcomed for averting a deeper trade war, many European leaders and market analysts characterized the deal as unbalanced. The agreement includes a flat 15% tariff on EU exports to the US, a point of contention among European officials and investors who had hoped for more favorable terms. European shares initially rose to a four-month high after the deal was announced, reflecting investor relief. However, criticism emerged from various quarters, including German Chancellor Friedrich Merz, who stated he was not satisfied with the outcome but acknowledged the progress made compared to the starting position of negotiations. The deal has been described as a 'glass half full, half empty' scenario, with some viewing it as a temporary avoidance of trade conflict rather than a comprehensive resolution to transatlantic trade tensions.