German economy minister: We must be clear that we will not back down to US tariffs

• US auto tariffs impact global supply chains
• It is now about delivering a decisive response from the EU
• No country can achieve prosperity through imposing additional tariffs
• We will support EU efforts to find a solution through negotiations

Well, counter-tariffs are surely to be on the way once we move past 2 April. The escalation will keep risk sentiment in check in the short-term and will also keep a lid on any euro optimism in the meantime.

This article was written by Justin Low at www.forexlive.com.