The EUR/USD pair is experiencing downward pressure, currently trading around 1.1000, as markets anticipate the Eurozone finance ministers’ meeting addressing potential responses to US tariffs. Concerns are escalating regarding a potential transatlantic trade conflict stemming from retaliatory measures to tariffs imposed by the US. The upcoming meeting in Warsaw will convene Eurozone finance ministers to deliberate on strategies to mitigate the anticipated repercussions of US tariffs. Poland’s Finance Minister, Andrzej Domański, has cautioned that disrupted supply chains and increased corporate costs could negatively impact European growth and currency valuations, potentially leading to adverse social consequences and increased consumer prices. The European Union has proposed a “zero-for-zero tariffs” agreement to the US for automotive and industrial goods. This proposal has been viewed favorably by investors, as a cooperative trade agreement would likely benefit the Eurozone economy.
