Dollar down over 15% vs EURO Year to Date (Patreon)

This has impact on a whole bunch of things.

The cost of vacation in Europe goes up by 15%. People may go to Mexico instead!

European goods become more expensive in dollar terms when sold in the U.S. Example: A €100,000 German machine that cost $110,000 at parity would now cost about $126,500 after a 15% euro rise. The EU car industry is already getting hammered but this will make things far worse. U.S. buyers may shift toward domestic suppliers or cheaper imports from countries with weaker currencies.

Exporters in sectors with thin profit margins (e.g., machinery, automotive parts, textiles) are toast selling in the US.... add on tariffs.... well goodbye profits.

Companies that earn a large share of revenues in dollars (e.g., Airbus, LVMH, Siemens) will see translation losses when converting U.S. sales back into euros.