Home Forex News Trump auto tariffs could drive euro to parity, Barclays says

Trump auto tariffs could drive euro to parity, Barclays says


Trump auto tariffs could drive euro to parity, Barclays says By Reuters

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Published Mar 15, 2024 10:06AM ET
Updated Mar 15, 2024 10:11AM ET

© Reuters. An employee counts Euro bills at a money exchange office in central Cairo, Egypt, March 20, 2019. REUTERS/Mohamed Abd El Ghany

LONDON (Reuters) – The euro could be driven back down to parity against the dollar if Donald Trump wins U.S. Presidential elections in November and imposes hefty 20% tariffs on Europe’s carmakers, Barclays’ global chairman of research predicted on Friday.

Barclays sees the euro dropping to $1.05 from around $1.08 now in its “base case” scenario of a 10% increase on broader tariffs on Europe, but “if we get 20% tariffs on autos I think it is probably going to get much closer to parity,” Barclays’ Ajay Rajadhyaksha told reporters on a conference call.

Trump auto tariffs could drive euro to parity, Barclays says

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