The EURUSD currency pair experienced a pullback, shedding approximately one-quarter of a percent on Wednesday. This decline comes in response to US President Donald Trump’s insistence that impending tariffs will affect the European Union as well, not just Canada and Mexico.

The announcement has led to increased market volatility, significantly influencing trader sentiment in the foreign exchange market. Analysts expect that continued tariff discussions may further impact the direction of this currency pair in the future.