‘A double whammy’: Strong euro compounds EU exporters’ tariff torment

“It's a double whammy for European exporters to the United States, [in] that they get hit not only with tariffs, but that the normal offset of an appreciating dollar exchange rate to the euro is not kicking in – in fact, the opposite is happening,” said Sander Tordoir, chief economist at the Centre for European Reform.

“So, if you're a European exporter relying on the US market... just mechanically, both negative effects are on top of each other instead of balancing each other out,” he added.