Please note that this website is not intended for EU residents. If you are located in the EU and wish to open an account with an EU investment firm and protected by EU laws, you will be redirected to Huaprime EU Ltd, a company licensed and regulated by the Cyprus Securities and Exchange Commission with licence no. 426/23.
Trump Announces New Tariffs, Boosting the U.S. Dollar
TOPICSTags: Canada Tariff, China Tariff, Mexico Tariff, Trump, USD
U.S. Hits Canada, Mexico, and China with New Tariffs
Last Friday, former President Donald Trump announced that the U.S. would impose tariffs of 25% on Canada and Mexico, along with 10% on China. He warned that punitive duties would follow if Canada and Mexico failed to take stronger measures to curb the flow of fentanyl and its precursor chemicals into the U.S., as well as illegal migration. This announcement strengthened the U.S. dollar, pushing it closer to the 110 level.
(U.S. Dollar Daily Price Chart, Source: Trading View)
Additionally, Trump acknowledged that the broad tariffs in Mexico, Canada, and China could cause “short-term” economic pain for Americans. Global markets reacted with concerns that the tariffs might slow economic growth and fuel inflation. He planned to speak with the leaders of Canada and Mexico on Monday, though both countries had already announced retaliatory tariffs. However, he downplayed expectations of reversing his decision.
Trump’s tariffs will impact nearly half of all U.S. imports, requiring the country to more than double its manufacturing output—an impractical goal in the near term. Economically, escalating trade tensions present a lose-lose scenario for all parties involved. The tariffs risk pushing Canada and Mexico into recession while triggering higher inflation, sluggish economic growth, and rising unemployment.
Disclaimer
Comments, news, research, analysis, price, and all information contained in the article only serve as general information for readers and do not suggest any advice. Ultima Markets has taken reasonable measures to provide up-to-date information, but cannot guarantee accuracy, and may modify without notice. Ultima Markets will not be responsible for any loss incurred due to the application of the information provided.
Why Trade Metals & Commodities with Ultima Markets?
Ultima Markets provides the foremost competitive cost and exchange environment for prevalent commodities worldwide.
Start TradingMonitoring the market on the go
Markets are susceptible to changes in supply and demand
Attractive to investors only interested in price speculation
Deep and diverse liquidity with no hidden fees
No dealing desk and no requotes
Fast execution via Equinix NY4 server
Ultima Markets is a member of The Financial Commission, an international independent body responsible for resolving disputes in the Forex and CFD markets.
All clients of Ultima Markets are protected under insurance coverage provided by Willis Towers Watson (WTW), a global insurance brokerage established in 1828, with claims eligibility up to US$1,000,000 per account.
TRADE WITH US
RISK DISCLOSURE
Risk Warning: Trading Forex and CFDs carries the risk of losing substantially more than your initial investment and should only be traded with money you can afford to lose. You do not own or have any rights to the assets that underlying the derivatives (such as the right to receive dividend payments). Ensure you fully understand the risks involved. Trading leveraged products may not be suitable for all investors. Before trading, please take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. Please consider our legal documents and ensure that you fully understand the risks before you make any trading decisions.
General Advice Warning: The information on this website is a general nature only and any advice has been prepared without taking account of your objectives, financial situation or needs. Accordingly, before acting on the advice, you should consider the appropriateness of any advice having regard to your objectives, financial situation and needs, and after considering the legal documents.
Regional Restrictions:This information or devices on this website is not directed or offered to residents of certain jurisdictions such as the United States, North Korea etc. For more information, please contact our customer support team.
Ultima Markets (Pty) Ltd, with registration number K2021950694, is licensed and authorised by the Financial Sector Conduct Authority (FSCA) under FSP number 52497. Registered address: 183 Albion Springs, Rondebosch, Cape Town, Western Cape, 7700, South Africa.
Ultima Markets, a trading name of Ultima Markets Ltd, is authorized and regulated by the Financial Services Commission "FSC" of Mauritius as an Investment Dealer (Full-Service Dealer, excluding Underwriting) (license No. GB 23201593). The registered office address: 2nd Floor, The Catalyst, 40 Silicon Avenue, Ebene Cybercity, 72201, Mauritius.
Huaprime EU Ltd, registered number HE423188, and with a business address at Georgiou Griva Digeni 122A, Kallinicos Court, Shop 1—Upper level, Neapolis, 3101 Limassol, Cyprus, is regulated by the Cyprus Securities and Exchange Commission, which has CIF license number 426/23.
Copyright © 2025 Ultima Markets Ltd. All rights reserved.
-
Messenger
Continue on Messenger
Take the conversation to your Messenger account. You can return anytime.
Scan the QR code and then send the message that appears in your Messenger.
Open Messenger on this device.
-
Instagram
Continue on Instagram
Take the conversation to your Instagram account. You can return anytime.
Scan the QR code to open Instagram. Follow @ultima_markets to send a DM.
Open Instagram on this device.
-
Live Chat
-
