Frankfurt's DAX pared early gains to close about 0.4% up at 23,857.2 on Tuesday, as investors continued to monitor the earnings season while also keeping an eye on trade developments, as US tariffs are set to take effect on August 7. Under the US-EU deal, most EU exporters will face a flat 15% US tariff - half the 30% previously threatened by Trump. In return, the EU committed to lowering its own tariffs on certain goods and increasing US energy purchases by $750 billion over the remaining three and a half years of Trump’s presidency. However, Trump has warned he may impose a 35% tariff on the EU if Brussels fails to meet its $600 billion investment pledge in American infrastructure. In business headlines, Infineon Technologies outperformed with a 4.6% gain, following impressive quarterly results. Shares in Continental reversed losses, rising 0.4%, despite posting Q2 EBIT 10% below consensus estimates.