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.

The Euro fails to extend its rally for the fourth consecutive day, as high uncertainty surrounding the trade relationship between the EU and the US and the threat of facing 30% tariffs from August 1 are starting to undermine speculative demand for the common currency.

“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.

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

The enduring tariffs from President Trump's administration continue to shape global trade dynamics, affecting both the US and the European Union. Despite legal challenges and market uncertainties, these tariffs remain in place,

Dassault Aviation has blamed the twin pressures of a still-troubled supply chain and the uncertainty caused by potential US tariffs for the sluggish first-half performance of its Falcon business jet family.

The EU as a whole has an annual trade surplus with the United States of $235.6 billion, according to the Bureau of Economic Analysis (BEA), which reports to the U.S. Department of Commerce. Only China has a higher amount. Ireland has the largest surplus among EU members, at $86.7 billion.

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 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.