According to The Kobeissi Letter, the European Union is preparing further counter measures against the newly announced US tariffs of 20%, as reported by CNBC. This development could impact trading relations between the US and EU, potentially affecting the foreign exchange markets and European export businesses.

According to @KobeissiLetter, President Trump's announcement of 20%+ reciprocal tariffs on up to 25 countries could significantly impact global trade, as US tariffs are set to affect over $1.5 trillion worth of imports by the end of April. Traders should monitor these developments closely as they could lead to increased market volatility and affect commodity prices and foreign exchange rates.