EUR/USD faces pressure as US-EU tariff talks show mixed progress

EUR/USD came under moderate pressure following a US-EU joint statement revealing complex tariff negotiations. While the EU pledged to eliminate tariffs on US industrial goods and committed to purchasing $750 billion in US energy products, the US announced plans to impose 15% tariffs on most EU imports, including autos and pharmaceuticals. The statement indicated potential auto tariff relief could come within weeks, pending EU legislation. This mixed outcome creates uncertainty for EUR/USD, as the $600 billion investment commitment from EU firms through 2028 could support dollar demand, while tariff escalation risks weigh on European export competitiveness. The pair's reaction will likely depend on implementation timelines and whether the auto tariff relief materializes as promised. Near-term, EUR/USD may face headwinds as markets digest the asymmetric nature of the trade commitments.