Currencies
Dollar Jumps, Peso and Loonie Sink as Trump Threatens Tariffs
- Trump vows to impose an additional 10% tariff on China
- Dollar is being viewed as a haven on Trump’s comments: StoneX
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The dollar surged on Tuesday after President-elect Donald Trump vowed additional tariffs on China as well as US neighbors Canada and Mexico.
Bloomberg’s dollar gauge rose 0.4% and the offshore yuan slumped to a four-month low after Trump said he would impose an extra 10% tariffs on goods from China. He also vowed to enact 25% tariffs on all products from Mexico and Canada, sending the currencies tumbling 1% and 1.7%, respectively.