The US dollar traded in the early New York currency transactions in narrow transactions against the main currencies, as reported by the Associated Press via Yahoo Mali. Participants in the market evaluated the potential economic consequences of President Donald Trump’s proposed tariffs on the United States with a special focus on the Euro and the Chinese Yuan.
Also Read: While Trump announces new business tariffs, US dollar rises
Data from the Indexbox platform show that the proposed tariffs can significantly affect the volume of US imports in several key sections. It is expected that the machinery and electrical equipment, which are among the top US import categories, will see possible contraction of value if new business policies are implemented.
Source: Indexbox market information platform
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