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> The USD is already down 15% this year compared to the Euro.

It's down 12% since a year ago, but that's largely a reaction to the tariffs. It's been fairly stable since July or so and has only seen a small dip (and partial recovery) in the last couple of weeks.

https://finance.yahoo.com/quote/USDEUR=X/



Tariffs cause a currency appreciation (they reduce imports, driving down the supply of the currency outside the country)




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