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 to kick in. The U.S. and EU are ironing out the finer details of a trade agreement reached Sunday.

President Donald Trump has signed an executive order that would have new tariffs on a wide swath of U.S. trading partners to go into effect in seven days — the next step in his trade agenda that will