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.

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.

“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.

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.

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.

The imposition of 30% U.S. tariffs on EU goods could reduce Italy's GDP by up to 0.8% by 2027. As transatlantic trade talks continue, Italy's main exports are at risk. EY forecasts a 1.4% GDP loss for 2025-2026,