Euro fell to a three-week low due to Trump's tariffs on cars
Kyiv • UNN
The euro weakened by 0.07% to $1.0747, reaching a three-week low. The reason is the introduction by the US of a 25% duty on car imports, which caused concern among investors.
On Thursday, the euro weakened and reached a three-week low, falling by 0.07% to $1.0747. This is reported by Reuters, reports UNN.
Details
According to reports, the Japanese yen stabilized on the market at the same time, slightly strengthening to the level of 150.445 per dollar. The currency market reacted to the decision of US President Donald Trump to introduce a 25% duty on the import of cars and light trucks, which will take effect next week. The contribution of this measure causes concern among investors about the slowdown in economic growth in the US and a possible increase in inflation.
The currency market's reaction to the new customs tariffs was restrained. The dollar index reached 104.61, which approached a three-week high. In contrast, the Mexican peso fell by more than 0.5%, and the Canadian dollar shifted to a higher level – 1.429 per dollar.
At the same time, given Trump's statements that some goods may be exempt from duties, in particular auto parts under the new trade agreement between the US, Mexico and Canada, the market is again focusing on the possible consequences of this policy.
Recall
Donald Trump announced the introduction of a 25% duty on all imported cars to the US from April 2. The decision caused concern in the EU, which is assessing the consequences.
The US will introduce a 25% duty on imported cars from April 227.03.25, 00:45 • 17782 views
