The European Union expects wine and spirits exported to the U.S. will face the baseline 15% tariff from Friday, as the clock runs down for levies on the bloc to kick in. The U.S. and EU are ironing out the finer details of a trade agreement reached Sunday.

She had been told, she said, that Switzerland was likely to be second on the list after the United Kingdom to strike a trade deal with Washington. 10%, she hinted, was the tempting tariff offer, far lower than the 31% Donald Trump had unveiled for Switzerland on his 'liberation day' in April.