“The dollar hit a new two-week low on Wednesday as a lack of clarity on US President Donald Trump’s tariff plans left financial markets in limbo and the currency struggling to regain ground against its main rivals.”, — write: epravda.com.ua
The dollar hit a new two-week low on Wednesday as a lack of clarity on US President Donald Trump’s tariff plans left financial markets in limbo and the currency struggling to regain ground against its main rivals. This is reported by the Reuters agency. Trump said late Tuesday that his administration is considering imposing a 10 percent tariff on goods imported from China starting February 1. On the same day, he announced that Mexico and Canada could face tariffs of around 25%. He also promised to impose tariffs on European imports, without elaborating.Advertisement: Despite those threats, the lack of concrete plans on the first day of Trump’s presidency led to the dollar opening the week down 1.2% against a basket of major currencies. The currency stabilized on Tuesday, ending the day unchanged, after a recovery attempt failed. US officials said any new taxes would be phased in gradually. The dollar index, which tracks the currency against six major rivals, fell to 107.75 on Wednesday, its lowest level since Jan. 6, paring morning gains. It was last down 0.15%, at 107.97.Advertisement: Recall: US President Donald Trump expanded his tariff threats to include China and the European Union on his second day in office after his first day under Canada and Mexico hit the target. US President Donald Trump announced that he plans to introduce previously announced tariffs of up to 25% on goods from Mexico and Canada by February 1. Republican President Donald Trump floated the idea of universal tariffs on Monday, but said the United States was not yet ready for such a step.