Market News
Tariffs rattle Canadian and Mexican currencies, US data knocks dollar - REUTERS
By Harry Robertson and Ankur Banerjee
Summary
- Trump's 25% tariffs on Mexico and Canada take effect
- Trump slaps another 10% duties on Chinese goods, 20% in total
- Dollar slips after U.S. yields slide on weak data
LONDON/SINGAPORE, March 4 (Reuters) - The Canadian dollar and Mexican peso fell to one-month lows after U.S. President Donald Trump levied steep tariffs on the countries, although a fall in the U.S. dollar on the back of weak economic data limited the broader impact on Tuesday.
Trump's new 25% tariffs on goods from Mexico and Canada took effect, along with a doubling of duties on Chinese goods to 20%, at 12:01 a.m. EST (0501 GMT).
Minutes later, China said it will impose additional tariffs of 10%-15% on certain U.S. imports from March 10. Canada has already said that retaliatory tariffs on the United States would take effect on Tuesday and Mexico is expected to follow suit.
