Media: Trump's New Tariffs Crush the Dollar Exchange Rate, Causing the Largest Decline in Two and a Half Years
According to Bloomberg, the US President Donald Trump's imposition of new tariffs has caused the dollar exchange rate to plummet, marking its largest single-day decline in two years.
The report states: "Trump's large-scale trade tariffs have led to a sharp drop in the dollar exchange rate, marking its biggest single-day decline in two and a half years. Market traders are preparing for further declines in the dollar."
The report points out that this decision by the White House has triggered a massive sell-off of the dollar.
Bloomberg cited Sonya Marten, head of foreign exchange research and monetary policy at DZ Bank, as saying: "The dollar was the biggest loser in last night's market."
On April 2nd, US President signed an order imposing retaliatory tariffs on goods from other countries. The lowest tariff is 10%. Additionally, most countries will face higher tariffs. The Office of the US Trade Representative explained that the increased tariffs were set due to trade deficits with certain countries, aiming to achieve trade balance.
Original article: https://www.toutiao.com/article/1828397936805891/
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