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.

As the tariff pause ends, the Trump administration should pivot to a more targeted and strategic policy that minimizes domestic harm.

SSAB's earnings fell more than expected in the second quarter, hit by lower steel prices and a weakening European market due to tariff-driven uncertainty, the Swedish steelmaker said on Wednesday, sending its shares more than 7% lower.

“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.

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

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

One-fifth of the EU’s exports are heading to the US. Tariffs on the carmaking sector hit the German economy the most, but potential tariffs on the pharmaceutical one could cost substantially to the Irish economy.

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.