The European Union is facing a higher 15% tariff rate on its goods imported to the U.S. compared to the 10% levy the U.K. has agreed to. "In theory, the UK benefits," Philip Shaw, chief economist at Investec, told CNBC.

The U.S.-EU trade agreement imposes 15 percent tariffs on most European imports, avoiding the 30 percent levies that President Trump had threatened. Critics argue the deal disproportionately favors