The news of Donald Trump's new tariffs on imports from Canada, Mexico, and China initially spurred market volatility, but was largely tempered as the day progressed.
While the CAD and the MXN experienced immediate weakness following the tariff announcements, the US dollar's gains were quickly moderated by reassurances of negligible broader impact.
Tariff threats appear more as a strategic negotiating tool rather than a direct assault on economies, with stakeholders already knowing how to respond.
The European market suffered the most from tariff news, as speculation rose that similar actions against the EU could be on the horizon.
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