The U.S. and European Union granted businesses some desperately sought after clarity as they shared fresh details on their trade agreement on Thursday, but questions remain about whether the deal can really be trusted.

Thursday's update broadly echoed the framework announced by the U.S. and EU in July, which called for 15% tariffs as well as pledges for Brussels to amp up spending and investment in the U.S. New details include a cap of 15% tariffs on pharmaceuticals, lumber and semiconductors. Autos will face the same rate, but only after the EU makes legislation changes to reduce its industrial duties.

However, EU Trade Commissioner Maros Sefcovic on Thursday suggested the framework was just the beginning, leaving the door open for future changes to the deal.

Missing details

Despite

See Full Page