# EUR/USD surges above 1.1640 as Trump escalates US–EU trade war

> The White House imposed effective tariffs from February 1 on eight European countries until the U.S. is allowed to buy Greenland, with threats of higher duties from June 1. The dollar fell sharply, and the EU weighed retaliation including €93 billion in tariffs on American goods.

- Date: 2026-01-19 · published 2026-01-19T12:00:00.000Z
- Category: trade · region US · magnitude high
- Page: https://feedsoft.ai/events/7348-eur-usd-surges-above-1-1640-as-trump-escalates-us-eu-trade-war
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

New tariffs and possible EU retaliation on U.S. goods threaten U.S. agricultural export demand and can pressure feed grain and meal prices. The weaker dollar partly offsets this by making U.S. exports cheaper abroad.

## Read by commodity

- DXY: bearish ▼
- EURUSD: bullish ▲

## Linked price moves

| Commodity | Date | Window | Change % | z-score | Why linked |
| --- | --- | --- | --- | --- | --- |
| EURUSD | 2026-01-20 | 1 | +1.2% | 4.3 | The 2026-01-19 tariff escalation began the dollar selloff and set up the following day's continued move, though it is a prior-day driver. |

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2019-08-02 | [Yen surges after Trump trade salvo wipes out dollar rally](https://feedsoft.ai/events/57809-yen-surges-after-trump-trade-salvo-wipes-out-dollar-rally.md) | +0.4% | +1.7% |
| DXY | 2025-01-21 | [Trump to hold off on tariffs, report says, easing trade war fears](https://feedsoft.ai/events/12678-trump-to-hold-off-on-tariffs-report-says-easing-trade-war-fears.md) | -1.1% | -1.7% |
| DXY | 2019-06-19 | [Mexico's Senate approves trade deal with US, Canada \| AP News](https://feedsoft.ai/events/58812-mexico-s-senate-approves-trade-deal-with-us-canada-ap-news.md) | -1.1% | -0.9% |
| DXY | 2019-12-16 | [USD/CAD: Trade Deal Weighs On US Dollar - Currency Live](https://feedsoft.ai/events/55809-usd-cad-trade-deal-weighs-on-us-dollar-currency-live.md) | +0.1% | -0.6% |
| DXY | 2018-01-26 | [Dollar's terrible week warning of what could with Trump's on trade](https://feedsoft.ai/events/10405-dollar-s-terrible-week-warning-of-what-could-with-trump-s-on-trade.md) | -0.0% | +1.1% |
| EURUSD | 2019-06-12 | [Far from 'devalued', euro surges as trade war hits yuan](https://feedsoft.ai/events/58808-far-from-devalued-euro-surges-as-trade-war-hits-yuan.md) | -1.1% | -0.5% |
| EURUSD | 2017-01-31 | [Dollar hit by crossfire as Trump talks currency wars](https://feedsoft.ai/events/73222-dollar-hit-by-crossfire-as-trump-talks-currency-wars.md) | +0.5% | -0.6% |
| EURUSD | 2019-12-03 | [Euro holds gains vs dollar hit by trade tariffs and weak data](https://feedsoft.ai/events/55783-euro-holds-gains-vs-dollar-hit-by-trade-tariffs-and-weak-data.md) | -0.1% | +1.4% |

## Sources

- fxstreet.com: https://www.fxstreet.com/news/eur-usd-surges-above-11640-as-trump-escalates-us-eu-trade-war-202601192302

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.