The EUR/USD pair is struggling in early European trading, reflecting a cautious market sentiment. Recent threats from US President Donald Trump propose a staggering 30 percent tariff on all European Union products to be imposed starting August 1. Initially, the Euro (EUR) bounced back from a three-week low around 1.1660. However, it could not maintain traction above the crucial 1.1700 level and has retreated to new lows at 1.1655 as of the latest update. Market participants are paying close attention to these developments, as they could significantly impact the Euro’s performance moving forward. The outlook remains bearish for EUR/USD as long as these threats linger and economic uncertainties continue to rise.