Jeep owner Stellantis said on Monday it suffered a massive loss in the first half of the year, when it felt the first impact of new US tariffs and took a massive charge following a change in US laws.

“Further euro strength is likely to be self-defeating,” said Valentin Marinov, a currency strategist at Crédit Agricole, a French bank. Exports were already likely to weaken and become a drag on the eurozone economy because of U.S. tariffs and European government policies that would encourage more imports.

European countries are not all equally exposed to the US market and so will not suffer the same consequences should President Donald Trump go ahead with his threats to impose 30-percent tariffs on the European Union.

UBS warns Trump’s proposed US tariffs could significantly impact Greece’s exports, posing risks to growth through 2026.

We crunched the numbers on the European Commission’s tweaks to its second package of countermeasures against American goods.

Major stock markets slipped on Tuesday as New York backed off its record highs and European markets fretted over an August 1 deadline for the EU to avert steep tariffs

The Euro nudges lower but holds most of the gains after the last two days' rally. The US Dollar has lost momentum on growing concerns about Trump's tariffs. Fed Chairman Powell will speak on Tuesday amid pressures to resign from President Trump.

The only acceptable tariff on European Union exports to the United States would be zero as the bloc is already facing a detrimental exchange rate, the head of Italy's business lobby said on Wednesday.