An update on Thursday confirmed those details, and revealed that pharmaceuticals exported from the EU to the U.S. will see tariffs capped at 15%. That alleviated some concerns, as U.S. President Donald Trump had previously threatened to slap the sector with tariffs as high as 250%.

Prime Minister Mark Carney landed in Poland on Saturday, kicking off a broader mission to deepen economic and security ties with European allies.

European shares ticked higher on Friday with traders awaiting U.S. Federal Reserve Chair Jerome Powell's speech at the Jackson Hole symposium for clues on the monetary policy outlook.

According to EU trade commissioner Maros Sefcovic, the work now turns toward implementing legislation to allow imports of the agreed U.S. goods. Only once that process begins will the U.S. lock in the reduced 15 percent car tariffs.

The European Union has escaped a potential 250% pharmaceutical tariff and instead has secured a maximum 15% levy with the U. S.

European equities were subdued on Thursday as investors awaited updates from the Federal Reserve's Jackson Hole symposium, while the United States and European Union locked in a framework trade deal reached last month.

The European Commission says it presumes the United States will impose a 15% tariff on most EU exports from Friday.

Ukraine’s Mission to the European Union marked Ukraine’s National Flag Day in Brussels with the traditional unfurling of a 30-meter Ukrainian flag in front of the European Parliament. — Ukrinform.