EUR/USD rises toward 1.1400 as Trump threatens to double import tariffs on steel, aluminum

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EUR/USD retraces its recent losses registered in the previous session, trading around 1.1370 during the Asian hours on Monday. The pair appreciates as the US Dollar (USD) struggles as the US Court of Appeals, on Thursday, ruling allowing US President Donald Trump’s tariffs to take effect.

ICYMI – JP Morgan CEO Dimon said China not going to come bow down to the US on trade

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JPMorgan CEO Jamie Dimon spoke at the 2025 Reagan National Economic Forum on Friday. In brief:

  • said the US needs to get its act together on trade quickly
  • said “the enemy within” is creating problems, need to fix issues such as how the US approaches permitting, regulation, taxation, immigration, education, and the healthcare system, also means maintaining important military alliances
  • “China is a potential adversary. They’re doing a lot of things well. They have a lot of problems”
  • if the United States is not the “preeminent military and preeminent economy in 40 years, we will not be the reserve currency. That’s a fact.”
  • “I just got back from China last week,” Dimon said. “They’re not scared, folks. This notion that they’re going to come bow to America, I wouldn’t count on that.”

This article was written by Eamonn Sheridan at www.forexlive.com.