The European Union's trade deal with the United States could cost the pharmaceutical industry between $13 billion and $19 billion as branded medicines become subject to a tariff of 15%, analysts said on Monday.

PARIS (Reuters) -The French wine and spirits exporters' federation FEVS said on Monday the trade deal struck between the European Union and the United States was expected to confirm duty-free trade in spirits. Since April, U.S. duties on EU spirits had been provisionally set at 10%.

Questions, critiques and discrepancies are hanging over the framework agreement, but investors seem to view it as a win all the same.

In the wake of the Trump administration’s trade deal with the European Union, investors have turned to watching for other agreements ahead a deadline at the end of this week — and they’re looking for progress in talks with China,

Higher tariffs, or import taxes, on European goods mean sellers in the U.S. would have to either increase prices for consumers — risking loss of market share — or swallow the added cost in terms of lower profits. The higher tariffs are expected to hurt export earnings for European firms and slow the economy.

Asian equities were mostly higher overnight as Vietnam and Indonesia outperformed while Japan and India underperformed. Hong Kong and Mainland China were both higher overnight on high volumes as health care stocks outperformed,

Trump's trade deals with the EU and Japan pave the way for the stock market to end with it's third straight annual gain of more than 20%, Oppenheimer said.

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